71Shares

#### 71 Shares 71 Shares > > (1) A co-operative housing body can have a share capital but does not have to have a share capital. > > > (2) The share capital of a co-operative housing body varies in amount according to the nominal value of shares from time to time subscribed. > > > (3) Shares are to be of a fixed amount, which is to be specified in the rules of the co-operative housing body. > > > (4) Shares are to be of one class all ranking equally. > > > (5) The rules of a co-operative housing society may not require a member to subscribe for more than one share and the nominal value of the share may not exceed $1. > > > (6) A share in a co-operative housing society cannot be sold or transferred. > > > (7) A share in a Starr-Bowkett society or association cannot be sold or transferred except in accordance with the rules of the society or association. > > > (8) The liability of a shareholder in a co-operative housing body in relation to a share is limited to the amount (if any) unpaid on the share.