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Rural Housing Association - How to Become a Shareholder The Rules of Rural Housing Association are the legal instrument by which the Association has bound itself, and these cannot be changed except by shareholding members in general meeting and with the approval of the Department for Social Development. They cover such matters as the Association’s objects, registered office and matters to do with Board membership, borrowing powers, procedures at meetings, appointment of auditors, etc. Shares in the Association are £1.00 each. They are non-returnable, non-transferrable, and limited to one per person. Because the Association operates on a not for profit basis no dividend is paid on them. Purpose of Shareholding Membership? to provide an active pool of people who have expressed an interest in the Association and from whom new Board / Committee members may be drawn to facilitate other people expressing support and commitment to the work of the Association without playing an active role to enhance the Association’s accountability to communities in which it operates Who Can Become a Shareholding Member? Shares in the Association can be held by individuals who should meet at least one of the following criteria: have a long term interest in and support for the Association or the work of the wider housing Association sector; have the appropriate skills, experience and availability to make a significant contribution to the Association’s Board / Committee structures either immediately or in the future; help improve the representation of local communities within the Association’s shareholding membership and / or Board and Committee structures. Why Become a Shareholding Member? Shareholding members have the right to: attend and vote at the Annual General Meeting and any Special General Meeting(s); receive copies of the Association and Group Annual Report and Accounts; receive copies of the Association’s “Update” Newsletters and Tenant Newsletters; receive a share certificate and a copy of the Association’s Rules and are required to: uphold the aims, objects and values of the Association and wider Group agree to be bound by the obligations placed on shareholders in the Association’s Rules always act in the Association’s interests and for the benefit of the communities it serves.
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