Part 5 — Capital Structure Division 1 Membership Capital
128 Redemption of membership shares
redeem any of its membership shares, if issued on a par-value
basis, at par value, and if issued on a no-par-value basis, in
accordance with the price or formula that is set out in its articles,
or, if no such price or formula is set out in the articles, at a fair
market value.
(2) No cooperative may redeem its membership shares if a result
of doing so would be to reduce the membership of the cooperative
so that section 307 applies.