Co-operatives National Law (Queensland)
sec.120Rights of membership not exercisable until registered etc
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sec.120 Rights of membership not exercisable until registered etc
A member of a co-operative is not entitled to exercise any rights of membership until— the member’s name appears in the register of members; and the member has made any payment to the co-operative for membership or acquired any share or interest that is provided for in the rules of the co-operative. A co-operative must ensure the name of a person admitted to membership is recorded in the register of members within 28 days after the person is admitted to membership. Maximum penalty (for subsection (2) ): $2,000. (sec.120-ssec.1) A member of a co-operative is not entitled to exercise any rights of membership until— the member’s name appears in the register of members; and the member has made any payment to the co-operative for membership or acquired any share or interest that is provided for in the rules of the co-operative. (sec.120-ssec.2) A co-operative must ensure the name of a person admitted to membership is recorded in the register of members within 28 days after the person is admitted to membership. Maximum penalty (for subsection (2) ): $2,000.
- (a) the member’s name appears in the register of members; and
- (b) the member has made any payment to the co-operative for membership or acquired any share or interest that is provided for in the rules of the co-operative.