Commentary

53 Rights of second-named joint shareholders

BUILDING SOCIETIES vol 6(1)
| Commentary

53 Rights of second-named joint shareholders

| Commentary

53 Rights of second-named joint shareholders

Where a building society transfers the whole of its business to a commercial company1, and the terms of the transfer include provision for part of the funds of the society to be distributed among2, or other rights in relation to shares in the successor conferred on3, members of the society4, a second-named joint shareholder will, under certain circumstances, be entitled to participate in the distribution of funds or to the rights thereby conferred5.

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