Memberships in an investment cooperative are, to a limited extent, transferable provided that the board of the cooperative consents to this transfer. The liquidity of the membership is limited.
Investors keen to sell their shares in a business may offer their membership certificates (original price being 20,- EUR each) in an investment cooperative for any price they choose. The memberships must first be offered to other members of the investment cooperative. The transaction proceeds as a peer-to-peer transaction in which one party settles directly with the other party.