Section 9: Sociétés anonymes à participation ouvrière.

The board of directors or supervisory board of the société anonyme à participation ouvrière includes one or more representatives of the société coopérative de main-d’oeuvre. These representatives are elected by the general meeting of shareholders and chosen from among the agents who represent the cooperative at this general meeting. The number of representatives is determined by the ratio of labour shares to capital shares. They are appointed for the same…

In the event of dissolution, the corporate assets are distributed among the shareholders only after the capital shares have been fully amortised. The portion representing the labour shares, in accordance with the decisions taken by the general meeting of the workers’ cooperative convened for this purpose, is then distributed among the participants and former participants with at least ten years of consecutive service in the company’s establishments, or at least…

I.-When a société anonyme à participation ouvrière falls into the situation referred to in Article L. 225-248, and its dissolution has not been declared, the Extraordinary General Meeting may decide, within the period set out in the second paragraph of the same article, to amend the company’s Articles of Association resulting in the loss of the form of a société anonyme à participation ouvrière and, by the same token, the…