s 136
In forceNature of share in co‑operative
Part 7Shares
Division 1Nature of share
136 Nature of share in co‑operative
(1)
A share or other interest in a co‑operative —
(a)
is personal property; and
(b)
is transferable or transmissible as provided by this Act and the rules of the co‑operative; and
(c)
is, subject to the rules of the co‑operative, capable of devolution by will or by operation of law.
(2)
Subject to subsection (1) —
(a)
the laws applying to ownership of and dealing with personal property apply to a share or other interest of a member in a co‑operative as they apply to other property; and
(b)
equitable interests in respect of a share or other interest of a member in a co‑operative may be created, dealt with and enforced as in the case of other personal property.
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