Table of Contents (Display details)

Building Societies
1 Short title
2 Interpretation
3 Registrar’s fees
4 Incorporation of societies
5 Purpose for which societies may be established
6 Bonus, etc., not to be deemed usurious
7 Limitation of liability of members
8 Power to borrow money
9 Matters to be set forth in the rules
10 Registration of rules
11 Alteration of rules
12 Societies may change their chief offices
13 Rules may provide forms of conveyance, etc.
14 Evidence of registration
15 Rules to be binding on members and others
16 Change of name
17 Officers to give security
18 Officers to account
19 Protection of moneys or property of the society in the possession of any officer
20 Investment of surplus funds
21 Payment of sums not exceeding $240 when members or depositors die intestate
22 Provision for the case of a member dying intestate leaving an infant heir
23 Penalty for fraud in withholding money, etc.
24 Proceedings necessary for the termination or dissolution of a society
25 Societies may unite with others, or one society may transfer its engagements to another
26 Determination of disputes by arbitration
27 Determination of disputes by court
28 Determination in any case to be final
29 Interpretation of “ disputes ”
30 Buildings may be purchased or leased as places of business
31 Minors may be elected members
32 Shares may be held by two or more persons jointly
33 Societies shall make annual audits and statements of the funds to the members
34 Receipt endorsed on mortgage to be sufficient discharge without reconveyance
35 Penalties
36 Regulations may be made by Registrar