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

¹ The pro­vi­sions gov­ern­ing the per­son­al li­ab­il­ity or li­ab­il­ity to make ad­di­tion­al con­tri­bu­tions of the mem­bers and the re­duc­tion or can­cel­la­tion of share cer­ti­fic­ates may be amended only by amend­ing the art­icles of as­so­ci­ation.

² Fur­ther­more, the pro­vi­sions gov­ern­ing re­duc­tions of cap­it­al by com­pan­ies lim­ited by shares ap­ply to any re­duc­tion or can­cel­la­tion of share cer­ti­fic­ates.⁷¹⁹

³ Any re­duc­tion of a mem­ber’s per­son­al li­ab­il­ity or li­ab­il­ity to make ad­di­tion­al con­tri­bu­tions shall have no ef­fect on ob­lig­a­tions that arose pri­or to pub­lic­a­tion of the amend­ment to the art­icles of as­so­ci­ation.

⁴ Where a mem­ber’s per­son­al li­ab­il­ity or li­ab­il­ity to make ad­di­tion­al con­tri­bu­tions is es­tab­lished or in­creased, on entry of the res­ol­u­tion in the com­mer­cial re­gister it works in fa­vour of all cred­it­ors of the co­oper­at­ive.