Building Societies Act 1965

Membership

24 Members who are not shareholders

(1)

The rules of a society may allow a person to become a member without holding a share in the society.

(2)

Such of the rules as relate to the making of loans or other investments to members need not be expressed in terms that treat a member to whom a loan or other investment is made as being, by reason of the making of the loan or other investment, the holder of a share in the society.

Compare: Building Societies Act 1962 s 8 (UK)

Section 24(2): amended, on 1 September 1987, by section 38 of the Building Societies Amendment Act 1987 (1987 No 175).