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

¹ Where the net profit is used for a pur­pose oth­er than to build up the co­oper­at­ive’s as­sets, each year one twen­ti­eth of it must be al­loc­ated to a re­serve fund. Such al­loc­a­tions must be made for at least 20 years; where share cer­ti­fic­ates ex­ist, they must in any event be made un­til the re­serve fund is equal to one-fifth of the co­oper­at­ive’s cap­it­al.

² The art­icles of as­so­ci­ation may stip­u­late that the re­serve fund must be ac­cu­mu­lated more rap­idly.

³ To the ex­tent that the re­serve fund does not ex­ceed one-half of the co­oper­at­ive’s oth­er as­sets or, where share cer­ti­fic­ates ex­ist, one-half of the co­oper­at­ive’s cap­it­al, it may be used only to cov­er losses or for meas­ures de­signed to sus­tain the co­oper­at­ive’s pur­suit of its ob­jects in dif­fi­cult times.

⁴ ...⁷²⁶