67Nature of share in co-operative

67 Nature of share in co-operative

67 Nature of share in co-operative

(1) A share or other interest in a co-operative—

(a) is personal property; and

(b) is transferable or transmissible as provided by this Law and the rules of the co-operative; and

(c) is, subject to the rules of the co-operative, capable of devolution by will or by operation of law.

(2) Subject to subsection (1)—

(a) the laws applying to ownership of and dealing with personal property apply to a share or other interest of a member in a co-operative as they apply to other property; and

(b) equitable interests in a share or other interest of a member in a co-operative may be created, dealt with and enforced as in the case of other personal property.