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Statute for a European Cooperative Society (SCE)
- 00. Preamble
- Art. 01 Form of the SCE
- Art. 02 Formation
- Art. 03 Minimum capital
- Art. 04 Capital of the SCE
- Art. 05 Statutes
- Art. 06 Registered office
- Art. 07 Transfer of registered office
- Art. 08 Law applicable
- Art. 09 Principle of non-discrimination
- Art. 10 Particulars to be stated in the documents
- Art. 11 Registration and disclosure requirements
- Art. 12 Publication of documents in the Member States
- Art. 13 Notice in the Official Journal of the European Union
- Art. 14 Acquisition of membership
- Art. 15 Loss of membership
- Art. 16 Financial entitlements of members in the event of resignation or expulsion
- Art. 17 Law applicable during formation
- Art. 18 Acquisition of legal personality
- Art. 19-34 Formation by merger
- Art. 35 Procedures for formation by conversion
- Art. 36 Structure of organs
- Art. 37-41 Two-tier system
- Art. 42-44 The one-tier system
- Art. 45-51 Rules common to the one-tier and two-tier systems
- Art. 52-62 General meeting
- Art. 63 Sectorial or section meetings
- Art. 64 Securities other than shares and debentures conferring special advantages
- Art. 65 Legal reserve
- Art. 66 Dividend
- Art. 67 Allocation of available surplus
- Art. 68-71 Annual accounts and consolidated accounts
- Art. 72-76 Winding up; Liquidation; Insolvency and Cessation of payments
- Art. 77 Economic and monetary union
- Art. 78-80 Final Provisions
1. Except where shares are transferred and subject to Article 3, loss of membership shall entitle the member to repayment of his/her part of the subscribed capital, reduced in proportion to any losses charged against the SCE's capital.
2. The amounts deducted under paragraph 1 shall be calculated by reference to the balance sheet for the financial year in which the entitlement to repayment arose.
3. The statutes shall lay down the procedures and conditions for exercising the right to resign and lay down the time within which repayment shall be made, which may not exceed three years. In any event, the SCE shall not be obliged to make the repayment less than six months after approval of the balance sheet issued following the loss of membership.
4. Paragraphs 1, 2 and 3 shall apply also where only a part of a member's shareholding is to be repaid.
