Subsection 3: Sociétés coopératives ouvrières de production, agricultural cooperatives.

In sociétés coopératives de production, the special reserve for employee profit-sharing is calculated on the following basis: 1° The profit is deemed to be equal, for each financial year, to the net management surpluses defined in article 32 of law no. 78-763 of 19 July 1978 on the status of sociétés coopératives de production, less the fraction equal to 25% of these surpluses, provided for in article 33, paragraph 3…

Under the terms of a profit-sharing agreement, the portion of net management surpluses distributed among employees in application of article 33° of the aforementioned law of 19 July 1978 may be allocated in whole or in part to the constitution of the special profit-sharing reserve. In this case, the special profit-sharing reserve and the investment provision are set up before the end of the financial year.

A profit-sharing agreement concluded within a société coopérative de production may stipulate that the use of the special profit-sharing reserve in company shares, whatever the legal form of the company, is reserved for members employed in the company.