sec.12Content of adopted rules

sec.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. s 12 amd 2013 SL No. 137 s 5

• (a) the establishment, membership and functions of the land trust’s executive committee;
• (b) the process for decision-making by the land trust and its committees;
• (c) the creation of the land trust’s executive offices and the procedure for filling the offices;
• (d) 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;
• (e) the procedure for settling disputes between the land trust and its members;
• (f) the frequency of meetings of the executive committee, and how the meetings are to be held;
• (g) the way the land trust’s general meetings are to be called and held;
• (h) requirements for managing trust property, including requirements for the following— (i) keeping records of the land trust’s transactions; (ii) procedures for authorising payments, and for making payments, out of the land trust’s funds; (iii) keeping control over trust property; (iv) procedures for incurring liabilities by or for the land trust;
• (i) keeping records of the land trust’s transactions;
• (ii) procedures for authorising payments, and for making payments, out of the land trust’s funds;
• (iii) keeping control over trust property;
• (iv) procedures for incurring liabilities by or for the land trust;
• (i) the procedure for adopting changes to the adopted rules of the land trust and for adopting new rules.
• (i) keeping records of the land trust’s transactions;
• (ii) procedures for authorising payments, and for making payments, out of the land trust’s funds;