s 159
In forceTransfer on death of member
Part 7Shares
Division 5Sale or transfer of shares
159 Transfer on death of member
(1)
Despite sections 75 and 76, on the death of a member, the member’s share in the co‑operative may be transferred to a person other than an administrator or executor with the consent of the board of the co‑operative.
(2)
The board may only give its consent under subsection (1) if there are reasonable grounds for believing that the person will be an active member of the co‑operative.
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