Law on Cooperatives - Voting requirements

Merger or consolidation of cooperatives

3/4 of all members with voting rights, present and constituting a quorum

Merger or consolidation of cooperative

voting by board of directors not required

Merger or consolidation of cooperative

with appraisal right or right to withdraw

Amendment of articles of cooperation

voting by board of directors not required

Amendment of articles of cooperation

2/3 of all members with voting rights

Amendment of articles of cooperation

with appraisal right or right to withdraw

Amendment of by-laws

voting by board of directors not required

Amendment of by-laws

2/3 of all members with voting rights

Amendment of by-laws

with appraisal right or right to withdrawal

Division of cooperatives into two or more cooperatives

voting by board of directors not required

Division of cooperatives into two or more cooperatives

3/4 of all members with voting rights, present and constituting a quorum

Division of cooperatives into two or more cooperatives

no appraisal right or right to withdraw

Voluntary dissolution of cooperative where creditors are not affected

majority of all members of the board (mere submission of board resolution together with ratification by general assembly)

Voluntary dissolution of cooperative where creditors are not affected

3/4 of all members with voting rights, present and constituting a quorum

Voluntary dissolution of cooperative where creditors are not affected

no appraisal right or right to withdraw

Voluntary dissolution of cooperative where creditors are affected

majority of all members of the board (filing of formal petition with notice and hearing

Voluntary dissolution of cooperative where creditors are affected

3/4 of all members with voting rights, present and constituting a quorum

Voluntary dissolution of cooperative where creditors are affected

no appraisal right or right to withdraw

Filing up of vacancy in the board of directors if vacancy is due to expiration of term

voting by board not allowed

Filing up of vacancy in the board of directors if vacancy is due to expiration of term

majority of all members with voting rights, present and constituting a quorum

Filing up of vacancy in the board of directors if vacancy is due to expiration of term

no appraisal right or right to withdraw

Filing up of vacancy in the board of directors if vacancy is not due to expiration of term (death, removal or resignation) (if they still constitute a quorum)

majority of the remaining directors

Filing up of vacancy in the board of directors if vacancy is not due to expiration of term (death, removal or resignation) (if they no longer constitute a quorum)

majority of all members with voting rights, present and constituting a quorum

Filing up of vacancy in the board of directors if vacancy is not due to expiration of term (death, removal or resignation) (if they still constitute a quorum)

no appraisal right or right to withdraw

Filing up of vacancy in the board of directors if vacancy is not due to expiration of term (death, removal or resignation) (if they no longer constitute a quorum)

no appraisal right or right to withdraw

Allocation of interest on share capital

majority of all members of the board, present and constituting a quorum

Allocation of interest on share capital

voting by members with voting rights not required

Allocation of interest on share capital

no appraisal right or right to withdraw

Deferment of payment of interest on share capital

upon recommendation by majority of all members of the board, present and constituting a quorum

Deferment of payment of interest on share capital

approval by majority of all members with voting rights, present and constituting a quorum

Deferment of payment of interest on share capital

no appraisal right or right to withdraw

Removal of a member of cooperative for valid cause

majority of all members of the board

Removal of a member of cooperative for valid cause

voting by members with voting rights not required

Removal of a member of cooperative for valid cause

no appraisal right or right to withdraw

Delegation of power of board of directors to an executive committee

majority of all members of the board

Delegation of power of board of directors to an executive committee

voting by members with voting right not required

Delegation of power of board of directors to an executive committee

no appraisal right or right to withdraw

Placing an elected cooperative officer under preventive suspension pending resolution by the investigating committee over his removal

majority of all members of the board

Placing an elected cooperative officer under preventive suspension pending resolution by the investigating committee over his removal

no appraisal right or right to withdraw

Placing an elected cooperative officer under preventive suspension pending resolution by the investigating committee over his removal

voting by members with voting rights not required

Filing up of vacancy in the executive committee

majority of all members of board, present and constituting a quorum

Filing up of vacancy in the executive committee

voting by members with voting rights not required

Filing up of vacancy in the executive committee

no appraisal right or right to withdraw

Recommending to the General Assembly the removal of elected officer of the cooperative

majority of all members of the board, present and constituting a quorum

Recommending to the General Assembly the removal of elected officer of the cooperative

voting by members with voting rights not required (but approval of the General Assembly is necessary for the decision regarding the removal)

Recommending to the General Assembly the removal of elected officer of the cooperative

no appraisal right or right to withdraw

Delegation of the delegable powers of General Assembly to the Board of Directors

voting by board of directors not required

Delegation of the delegable powers of General Assembly to the Board of Directors

3/4 of all members with voting rights, present and constituting a quorum

Delegation of the delegable powers of General Assembly to the Board of Directors

no appraisal right or right to withdraw

Ratification of contracts with self-dealing directors, officers or executive committee members of the cooperative

voting by board of directors not required

Ratification of contracts with self-dealing directors, officers or executive committee members of the cooperative

3/4 of all members with voting rights, present and constituting a quorum

Ratification of contracts with self-dealing directors, officers or executive committee members of the cooperative

no appraisal right or right to withdraw

Ratification of disloyalty of a director of a cooperative

voting by board of directors not required

Ratification of disloyalty of a director of a cooperative

3/4 of all members with voting rights, present and constituting a quorum

Ratification of disloyalty of a director of a cooperative

no appraisal right or right to withdraw

Removal of an elected officer upon recommendation of the Board of Directors

voting by board of directors not required (but recommendation by the board is necessary prior to the voting for the removal

Removal of an elected officer upon recommendation of the Board of Directors

3/4 of all members with voting rights, present and constituting a quorum

Removal of an elected officer upon recommendation of the Board of Directors