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

¹ The art­icles of as­so­ci­ation shall spe­cify wheth­er the de­part­ing mem­bers or their heirs have claims on the co­oper­at­ive’s as­sets and, if so, what those claims are. Such claims must be cal­cu­lated on the basis of the net bal­ance sheet as­sets ex­clud­ing re­serves at the time the mem­ber leaves the co­oper­at­ive.

² The art­icles of as­so­ci­ation may grant de­part­ing mem­bers or their heirs the right to the full or par­tial re­pay­ment of the value of their share cer­ti­fic­ate ex­clud­ing the entry fee. They may stip­u­late that this re­pay­ment be de­ferred for up to three years after the mem­ber’s de­par­ture.

³ Even where the art­icles of as­so­ci­ation make no such pro­vi­sion, the co­oper­at­ive re­mains en­titled to de­fer the re­pay­ment for up to three years where it would cause the co­oper­at­ive con­sid­er­able losses or jeop­ard­ise its con­tin­ued ex­ist­ence. Any en­ti­tle­ment of the co­oper­at­ive to a sev­er­ance pen­alty paid by the de­part­ing mem­ber is un­af­fected by this pro­vi­sion.

⁴ The claims of de­part­ing mem­bers or their heirs pre­scribe three years after the time at which the set­tle­ment be­comes pay­able by the co­oper­at­ive.