Tortia, Ermanno - Associazione Italiana per la Cultura della Cooperazione … - 2005
reinvestment of selffinanced capital funds in indivisible reserves. The introduction of divisible reserves appropriable by worker … saleable in the form of cooperative bonds should be restricted. The sum of divisible reserves owned by incumbent members, and … which net surpluses are distributed and reinvested, and with the reimbursement of individual capital quotas. When divisible …