Subsection 3: Operation of the company

Cooperative societies of medical biologists are administered by one or more representatives, who are natural persons chosen from among the members acting unanimously. The term of office, which may not exceed six years, is set by the articles of association. In companies with more than two members, the dismissal of the representative may be decided by the other members acting unanimously.

I.-The conviction of a partner of a criminal offence or his removal from the roll of the bar association to which he belongs automatically entails his exclusion from the company. Where the company has more than two members, the exclusion of a partner may be ordered by the other partners acting unanimously if that partner has committed a serious breach of the Articles of Association or the company’s internal rules…

Shares may only be transferred to third parties with the consent of all the shareholders. If the other shareholders refuse to give their consent to the share transferee, the shareholders are obliged, within a period of six months, to acquire or arrange for the acquisition of the shares at a price set by an expert, in the absence of an agreement between the parties. Failing this, the transferring shareholder may…

Each partner bears sole responsibility for the professional acts he performs.

The General Meeting meets at least once a year. Each shareholder has one vote, regardless of the fraction of the capital subscribed by him. A member may only be represented at the meeting by another member, but no member may have more than two votes.

For the application ofarticle 23 of law no. 47-1775 of 10 September 1947, the cooperative societies mentioned in this section come under the authority of the Minister for Health.