1366d

When a member of a cooperative retires voluntarily or is separated from it, he/she shall be paid, after discounting the amount of any debt in the cooperative (including debts contracted as debtor in solidum, warrantor or sponsor, regardless of whether or not personal profit or lucre has been obtained from said loan), the sum of money that said member has paid for shares and deposits, plus the amounts of dividends, cash, patronage and interest duly-earned and accredited up to the date of his/her retirement or expulsion. Said payment shall be made within thirty (30) days following the retirement or separation of the member.The cooperative may require that the notice of withdrawal of deposits be made thirty (30) days in advance, and that the notice of withdrawal of stock shall be made ninety (90) days in advance. History —Oct. 28, 2002, No. 255, § 6.05.

When a member of a cooperative retires voluntarily or is separated from it, he/she shall be paid, after discounting the amount of any debt in the cooperative (including debts contracted as debtor in solidum, warrantor or sponsor, regardless of whether or not personal profit or lucre has been obtained from said loan), the sum of money that said member has paid for shares and deposits, plus the amounts of dividends, cash, patronage and interest duly-earned and accredited up to the date of his/her retirement or expulsion. Said payment shall be made within thirty (30) days following the retirement or separation of the member.The cooperative may require that the notice of withdrawal of deposits be made thirty (30) days in advance, and that the notice of withdrawal of stock shall be made ninety (90) days in advance. History —Oct. 28, 2002, No. 255, § 6.05.