CESSATION OF MEMBERSHIP

When do you cease/stop being a member of a Sacco/Co-operative? Many By-Laws state that membership in the society shall cease or deemed to have ceased in regard to any member from the date of:

DON'T STOP BELIEVING IN SACCOs!!

DON’T STOP BELIEVING IN SACCOs!!

(i) Death

(ii) Withdrawal

(iii) Expulsion

(iv) Being certified to be of unsound mind.

(v) Transfer of shares to another member.

(vi) Failure to remit share contributions and loan repayments for a continuous period of six months without valid reasons or leave of the society.

(vii) Ceasing to hold qualification for membership as specified in these by-laws provided that members who have lost the common bond may retain their membership.

 

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