Circumstances in which membership ceases—all co-operatives
117 Circumstances in which membership ceases—all co-operatives
A person ceases to be a member of a co-operative in each of the following circumstances and as otherwise provided by this Law—
if the member’s membership is cancelled under Part 2.6;
if the member is expelled or resigns under the rules of the co-operative;
if—
the individual member becomes bankrupt or the corporate member becomes insolvent; or
the member’s property becomes subject to control under the law relating to bankruptcy;
unless provision is made to the contrary in the rules of the co-operative;
on the death of the member;
if the contract of membership is rescinded on the ground of misrepresentation or mistake;
for a member that is a corporation—if the corporation is deregistered.
On the death of a member, the member’s estate remains liable as the member until the member’s personal representative or some other person is registered in the member’s place.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.