206
CurrentRestriction on directors of certain co-operatives selling land to co-operative
Chapter 3Management and operation of co-operatives
Part 3.1Management
Division 4Duties and liabilities of directors, officers and employees
206 Restriction on directors of certain co-operatives selling land to co-operative
A director of a co-operative, the primary activity of which is or includes the acquisition of land to settle or retain people on the land and of providing any community service or benefit, must not sell land to the co-operative except under a special resolution of the co-operative. Maximum penalty—$24,000 or imprisonment for 2 years, or both.
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.