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Co-Operative Societies Act 2008

10. Content of by-laws

1.      A registered society shall include in its by-laws provisions for-

a.      conditions of membership, including-

                      i.         the right of joint members, if any;

                     ii.         the qualification for membership and the withdrawal of members and transfer of membership;

                    iii.         the amount of the membership fee and the annual fee, if any, to be paid by members;

                    iv.         the conditions on which membership ceases or may be terminated, the disposition that may be made on cessation or termination of a memberís interest and the determination of the value of the memberís interest; and

                     v.         the minimum value of shares that may be held by each member;

a.      

b.     the voting rights and the rights of making, amending and repealing by-laws, the right of members to vote by ballot and the manner, form and effect of votes at meetings;

c.      directors, officers and members of the committees of directors-

                      i.         qualification, terms of office and removal;

                     ii.         the filling of vacancies, and

                    iii.         their powers, duties;

a.      

b.      

c.      

d.     the distribution of the property of the society on the dissolution thereof;

e.      the borrowing powers of the society and the procedure for exercising those powers; and

f.      any matter, in addition to those set out in paragraphs (a) to

g.     that the members consider necessary or desirable.

1.     

2.      Subject to subsection (3), where the by-laws requires a greater number of votes or directors of members than that required by this Act to effect any action, the by-laws shall prevail;

3.      The by-laws may not require a greater number of votes of members to remove a director than the number required for a special resolution.



Co-Operative Societies Act 2008 Back




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