A statutory clause requiring the parties to "undertake" to resort to conciliation before commencing any judicial or arbitral proceedings constitutes a legally binding obligation and not a mere option, given that the terms "undertaking" and "obligation" assume equivalent meaning in the context of contractual arrangements, and the articles of association form an integral part of the company contract pursuant to Article 2521 of the Civil Code, with consequent binding effect between the members pursuant to Article 1372 of the Civil Code.
An arbitration clause contained in the articles of association of a cooperative society, which refers to arbitrators the resolution of disputes concerning corporate relationships not resolved in conciliation, applies also to disputes relating to the payment of consideration due to contributing members, where such activity falls within the corporate object and is governed by the cooperative's internal rules, being disputes inherent to corporate relationships within the meaning of Article 1 of Legislative Decree 5/2003.
The statutory provision contemplating resort to conciliation "before commencing any judicial or arbitral proceedings" does not establish an alternative between ordinary judicial protection and arbitral proceedings for the same disputes, but rather indicates that the obligation to attempt conciliation applies both to disputes referred to arbitral jurisdiction and to those falling within the jurisdiction of the ordinary court, without prejudice to the referral to arbitrators of disputes concerning corporate relationships expressly provided for by the arbitration clause.