(1) The Management Board requires the approval of the Supervisory Board on the following matters:
a) the principles of business policy,
b) taking up, transferring or relinquishing a business area, unless the general assembly is responsible according to § 30 letter m)
c) the acquisition, encumbrance and sale of developed and undeveloped land as well as property in accordance with the Condominium Act,
Erecting buildings, taking over and giving up holdings, and acquiring and giving up membership in cooperatives – including partial termination. The exception is the acquisition of land to save one’s own claims,
d) the submission of legally relevant declarations of particular importance, in particular of those contracts through which recurring obligations are established to a considerable extent for the cooperative,
e) joining and leaving associations and other associations,
f) the determination of the date and place of the general assembly, the holding of the general assembly without the physical presence of the members (§ 36a para. 1), the possibility of the members participating in the general assembly by means of electronic communication (§ 36a para . 5), the possibility of participating in the resolution of a general assembly held only as a face-to-face meeting (Section 36b) and the video and audio transmission of the General Assembly (Section 36c),
g) the use of the reserves pursuant to Sections 39 and 39a,
h) the establishment and closure of branches and warehouses,
i) the granting of power of attorney,
j) the distribution of a reimbursement (Section 42a),
k) the determination of lump-sum reimbursements for expenses to members of the Supervisory Board in accordance with Section 22 (8),
l) the appointment of the managing director, insofar as he is not a member of the board,
m) the determination of contributions according to § 12 letter i)
(2) Joint meetings are called by the chairman of the supervisory board or his deputy. Section 25, Paragraph 4, Clause 2 applies accordingly to the convocation. Joint meetings of the management board and the supervisory board are also required to receive the report on the likely result of the statutory audit (final discussion) and to discuss the written audit report.
(3) The chairman of the Supervisory Board or his deputy chairs the joint meetings.
(4) The board of directors and the supervisory board have a quorum if more than half of the members of the board of directors and more than half of the members of the supervisory board are present.
(5) An application is rejected if it does not find a majority on both the management board and the supervisory board.
(6) Resolutions are to be recorded in joint minutes for evidence purposes; the result of the separate votes is to be recorded; In addition, Section 19 Paragraph 4 and Section 25 Paragraph 5 apply accordingly.