Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ The dir­ect­ors must con­duct the busi­ness of the co­oper­at­ive with all di­li­gence and em­ploy their best en­deav­ours to fur­ther the co­oper­at­ive’s cause.

² In par­tic­u­lar, they have a duty:

1.

to pre­pare the busi­ness of the gen­er­al as­sembly of mem­bers and im­ple­ment its res­ol­u­tions;

2.

to su­per­vise the per­sons en­trus­ted with the co­oper­at­ive’s busi­ness man­age­ment and rep­res­ent­a­tion with re­gard to com­pli­ance with the law, the art­icles of as­so­ci­ation and any ap­plic­able reg­u­la­tions and to keep them­selves reg­u­larly in­formed of the so­ci­ety’s busi­ness per­form­ance.

³ The dir­ect­ors are re­spons­ible for en­sur­ing that the minutes of their meet­ings, the minutes of the gen­er­al as­sembly, the ne­ces­sary ac­count­ing re­cords and the mem­ber­ship list are kept prop­erly, that the profit and loss ac­count and the an­nu­al bal­ance sheet are drawn up and sub­mit­ted to the aud­it­or for ex­am­in­a­tion in ac­cord­ance with the stat­utory pro­vi­sions and that the pre­scribed no­ti­fic­a­tions con­cern­ing ac­ces­sions and de­par­tures of mem­bers are made to the com­mer­cial re­gistry.⁵⁹⁸