The Credit Cooperatives Act Of The Republic Of China Article 12-1

A credit cooperative member may withdraw from the credit cooperative at the end of a business year, but they shall submit an application three months prior to the withdrawal.The period in the preceding paragraph may be extended to six months, as provided by the law; if the credit cooperative member is a juristic person, the period may be extended to one year.The member who withdrew may, according to the constitution, request redemption of the membership shares held by the member. The calculation of the share capital shall be based on the net value per share according to the resolutions of the general meeting of credit cooperative representatives at the end of the business year. However, the maximum amount of each membership share should not exceed the par value per share.Before resolving the net value in the preceding paragraph and before resolutions of the general meeting of credit cooperative representatives, the credit cooperatives should audit and attest with the Certified Public Accountants for the possible lost and recorded reserves. If not recorded, it should allocate supplementary valuation reserve accordingly.After the resolutions of the general meeting of credit cooperative representatives, the credit cooperative should redeem the membership shares in Paragraph 3 of this Article within three months.The preceding five paragraphs shall apply mutatis mutandis to the calculation of the member’s application for reduction of the membership shares and the amount of the redemption of membership shares.