South Australian Consolidated Acts

SOUTH AUSTRALIAN CO-OPERATIVE AND COMMUNITY HOUSING ACT 1991 - SECT 24

24—Rights and liabilities of members

        (1)         Except as may be provided by the rules of the co-operative, a member of a registered housing co-operative is not liable to contribute towards the payment of the debts and liabilities of the co-operative or the costs, charges and expenses of a winding up of the co-operative.

        (2)         Subsection (1) does not apply in respect of debts or liabilities incurred by or on behalf of the co-operative prior to incorporation.