Incorporated society
From Wikipedia, the free encyclopedia
in New Zealand an incorporated society is defined as being a group of at least 15 people who have applied for registration under the Incorporated Societies Act 1908.
Once registered the Society constitutes a distinct legal entity which provides protection to members from debts, contracts etc. In return, members do not have a personal financial interest in the property or assets (if any) owned by the society.
To maintain registration, annual returns must be made to the Registrar of Incorporated Societies [1]. At any stage the Society may be wound up by members' resolution, creditors or the Registrar (if compliance is not maintained).
[edit] References
 |
This article does not cite any references or sources. (March 2008) Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed. |
