Cooperatives Act Article 21

If a cooperative of limited liability reduces the par value of each share, or a cooperative of guaranteed liability reduces the par value of each share or the guarantee amounts, it shall be resolved in the general meeting of members; and notices shall be given to the creditors or a public announcement shall be made to inform the creditors about the reduction, and a time limit of not less than one month shall be set for the creditors to file an opposition against the reduction.If a creditor files an opposition within the time limit set forth in the above paragraph, the cooperative may not reduce the par value of each share or the guarantee amounts unless it pays off the debts owed to the creditor or provides an equivalent guarantee.