99
CurrentSale or transfer of shares
Chapter 2Formation, powers and constitution of co-operatives
Part 2.4Shares
Division 7Sale or transfer of shares
99 Sale or transfer of shares
A share in a co-operative cannot be sold or transferred except:
(a)
on the death of a member – under Division 8; or
(b) to a person appointed to administer the estate of a shareholder under a law relating to the administration of the estates of persons who, through mental or physical infirmity, are incapable of managing their affairs; or
(c) with the consent of the board – to any person, if there are reasonable grounds for believing the person will be an active member of the co-operative.
This Act’s bill:Explanatory statement
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