s 117
In forceRegular subscription: active membership of non‑distributing co‑operative
Part 6Active membership
Division 2Rules to contain active membership provisions
117 Regular subscription: active membership of non‑distributing co‑operative
(1)
Active membership provisions for a non‑distributing co‑operative may provide that the payment of a regular subscription by a member of the co‑operative, to be applied to a primary activity of the co‑operative, is sufficient to establish active membership of the co‑operative.
(2)
A member of a co‑operative who would, on payment of the subscription, be an active member of a co‑operative is taken to be an active member until the subscription is payable.
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