Cost and financing > Reimbursement of contributions

Cost and financing

Reimbursement of contributions

In the event of loss of the status of partner, they or their heirs have the right to demand the reimbursement of their contributions that constitute their share of the social capital, whose value will be the one reflected in the record book of members and contributions to the social capital, including in the computation, where appropriate, the proportional part of the Returns Fund.

The member may voluntarily withdraw from the Cooperative at any time, by prior written notice to the Governing Council. The notice period set in the Statutes is 6 months, and failure to comply will give rise to the corresponding compensation for damages.

However, and given the heavy investments that we are going to make, the members have assumed the voluntary commitment not to unsubscribe from the Cooperative, without just cause,, until five years have elapsed from the date of subscription.

A member that voluntarily withdraws from the cooperative in compliance with the commitment established in the previous section, will fully recover the amount of share capital that they have accredited plus any interest based on the ICP (from the date of subscription).

Failure by the member to comply with the requirements established in the preceding sections authorizes the Governing Council to demand compensation of 20% of the amount of the mandatory contributions as damages.

Contributions may be transferred by succession causa mortis, to successors in title if they are partners and request it or, if they are not, if they request it within a period of 6 months from the death of the deceased and comply the requirements demanded in the statutes to acquire the status of a partner. Otherwise, the heirs will be reimbursed the contribution to the share capital accredited and updated annually with the CPI (from the start-up).