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Art. 926

220COFederal ActJan 1, 1912Original source
  1. Where public sector corporations such as the Confederation or a canton, district or commune have a public interest in a cooperative, the cooperative’s articles of association may grant that corporation the right to appoint representatives to the board or the external auditor.1
  2. These directors and external auditors appointed by a public sector corporation shall have the same rights and duties as those elected by the cooperative.
  3. Only the public sector corporation shall have the right to dismiss the representatives that it appointed to the board and the external auditor.2The public sector corporation is liable to the cooperative, its members and creditors for the actions of these representatives, subject to the rights of recourse under federal and cantonal law.

Footnotes

  1. Amended by No I 3 of the FA of 16 Dec. 2005 (Law on Limited Liability Companies and Amendments to the Law on Companies limited by Shares, Cooperatives, the Commercial Register and Business Names), in force since 1 Jan. 2008 (AS 2007 4791;BBl 2002 3148, 2004 3969). ↩

  2. First sentence Amended by No I 3 of the FA of 16 Dec. 2005 (Law on Limited Liability Companies and Amendments to the Law on Companies limited by Shares, Cooperatives, the Commercial Register and Business Names), in force since 1 Jan. 2008 (AS 2007 4791;BBl 2002 3148, 2004 3969). ↩

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