156Sale or transfer of members’ water entitlements

#### 156 Sale or transfer of members’ water entitlements 156 Sale or transfer of members’ water entitlements > > (1) A member of a corporation may sell or transfer the whole or any part of the member’s water entitlement to another member or to the corporation. > > > (2) A member must not sell or transfer the whole or part of the member’s water entitlement under this section unless the sale or transfer has been approved by the corporation in accordance with the rules or the regulations. > > > (3) A sale or transfer by a member does not affect the member’s membership of the corporation, except as provided by this Act or the rules of the corporation. > > **s 156:** Am 2001 No 56, Sch 1.22 \[15\]; 2008 No 73, Sch 5 \[11\]; 2018 No 31, Sch 1 \[4\]. Subst 2010 No 133, Sch 2\[54\].