s. 26 subscriptions or in such manner as is specified in the rules. (5) No member shall hold more than such proportion of the shares in a society as is prescribed by the rules. (6) A member shall subscribe for such minimum number of shares as is prescribed by the rules. (7) A share may be held by two or more persons jointly and, in such case, notices for the purposes of the society may be given to the joint holder whose name appears first on the register of shares in respect of the share. (8) A share may not be sold or transferred without the consent of the board. 26 Liability of members No. 6138 s. 26. (1) A member shall be liable to the society for the amount, if any, unpaid on the shares held by him, together with any charges and other moneys payable by him to the society as prescribed by this Act or the rules of the society. (2) Where, under or in relation to any contract or S. 26(2) substituted by policy of life insurance or similar contract in a No. 6461 s. 2 form approved by the registrar after consideration (as amended by No. 6489 of a report thereon from the Government Statist, s. 4(Sch. item 19)) or by virtue of any legal or equitable assignment amended by of or trust created in respect of any such contract No. 27/2001 s. 8(Sch. 6 or policy, or pursuant to any scheme relating to item 1.3). life insurance approved by the registrar after consideration of such a report, provision is made whereby, in the event of the death of a member of a society to whom the contract policy or scheme applies or in the event of the death of a member's spouse or domestic partner to whom the contract policy or scheme applies, moneys will be available for or towards the discharge of the
subscriptions or in such manner as is specified in the rules. (5) No member shall hold more than such proportion of the shares in a society as is prescribed by the rules. (6) A member shall subscribe for such minimum number of shares as is prescribed by the rules. (7) A share may be held by two or more persons jointly and, in such case, notices for the purposes of the society may be given to the joint holder whose name appears first on the register of shares in respect of the share. (8) A share may not be sold or transferred without the consent of the board. No. 6138 s. 26. 26 Liability of members s. 26 (1) A member shall be liable to the society for the amount, if any, unpaid on the shares held by him, together with any charges and other moneys payable by him to the society as prescribed by this Act or the rules of the society. S. 26(2) substituted by No. 6461 s. 2 (as amended by No. 6489 s. 4(Sch. item 19)) amended by No. 27/2001 s. 8(Sch. 6 item 1.3). (2) Where, under or in relation to any contract or policy of life insurance or similar contract in a form approved by the registrar after consideration of a report thereon from the Government Statist, or by virtue of any legal or equitable assignment of or trust created in respect of any such contract or policy, or pursuant to any scheme relating to life insurance approved by the registrar after consideration of such a report, provision is made whereby, in the event of the death of a member of a society to whom the contract policy or scheme applies or in the event of the death of a member's spouse or domestic partner to whom the contract policy or scheme applies, moneys will be available for or towards the discharge of the
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