Content of adopted rules
12 Content of adopted rules
The adopted rules of a land trust must include provision for the following—
the establishment, membership and functions of the land trust’s executive committee;
the process for decision-making by the land trust and its committees;
the creation of the land trust’s executive offices and the procedure for filling the offices;
the appointment of a person to act in the position of a member of the executive committee when the member is, or is to be, absent;
the procedure for settling disputes between the land trust and its members;
the frequency of meetings of the executive committee, and how the meetings are to be held;
the way the land trust’s general meetings are to be called and held;
requirements for managing trust property, including requirements for the following—
keeping records of the land trust’s transactions;
procedures for authorising payments, and for making payments, out of the land trust’s funds;
keeping control over trust property;
procedures for incurring liabilities by or for the land trust;
the procedure for adopting changes to the adopted rules of the land trust and for adopting new rules.
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