sec.30Holding general meetings

sec.30 Holding general meetings

A land trust must hold an annual general meeting as soon as practicable after the end of each financial year. However, a land trust need not hold a meeting under subsection (1) if— the land trust’s total income from all sources for the financial year is not more than $20,000; and the land trust was not required, under its rules, to hold an election in the financial year for members of its executive committee; and the executive committee of the land trust considers there are no items of business for an annual general meeting. A land trust may hold a special general meeting at any time. A general meeting must be called and held in the way required under the rules of the land trust. Subsection (4) is subject to section 31 . (sec.30-ssec.1) A land trust must hold an annual general meeting as soon as practicable after the end of each financial year. (sec.30-ssec.2) However, a land trust need not hold a meeting under subsection (1) if— the land trust’s total income from all sources for the financial year is not more than $20,000; and the land trust was not required, under its rules, to hold an election in the financial year for members of its executive committee; and the executive committee of the land trust considers there are no items of business for an annual general meeting. (sec.30-ssec.3) A land trust may hold a special general meeting at any time. (sec.30-ssec.4) A general meeting must be called and held in the way required under the rules of the land trust. (sec.30-ssec.5) Subsection (4) is subject to section 31 .

• (a) the land trust’s total income from all sources for the financial year is not more than $20,000; and
• (b) the land trust was not required, under its rules, to hold an election in the financial year for members of its executive committee; and
• (c) the executive committee of the land trust considers there are no items of business for an annual general meeting.