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

¹ The art­icles of as­so­ci­ation may make mem­ber­ship of a co­oper­at­ive con­di­tion­al on own­er­ship or com­mer­cial ex­ploit­a­tion of a prop­erty.

² In such cases the art­icles of as­so­ci­ation may stip­u­late that, in the event that the prop­erty or com­mer­cial op­er­a­tions change hands, mem­ber­ship shall auto­mat­ic­ally pass to the ac­quirer.

³ A trans­fer of mem­ber­ship res­ult­ing from the ali­en­a­tion of prop­erty shall be val­id as against third parties only if entered un­der pri­or­ity no­tice in the land re­gister.