Circumstances in which membership ceases: all co‑operatives
63 Circumstances in which membership ceases: all co‑operatives
A person ceases to be a member of a co‑operative in each of the following circumstances and as otherwise provided by this Act —
if the member’s membership is cancelled under Part 6;
if the member is expelled or resigns in accordance with the rules of the co‑operative;
if —
the individual member becomes bankrupt or the corporate member becomes insolvent; or
the member’s property becomes subject to control under the law relating to bankruptcy,
unless provision is made to the contrary in the rules of the co‑operative;
on death;
if the contract of membership is rescinded on the ground of misrepresentation or mistake;
in the case of a member that is a corporation, if the body is deregistered.
On the death of a member, the member’s estate remains liable under section 67 as the member until the member’s personal representative or some other person is registered in the member’s place.
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