Page 107 - DCOM106_COMPANY_LAW

Company Law Sukhpreet Kaur, Lovely Professional University

Notes Unit 8: Membership in a Company

CONTENTS
Objectives
Introduction

8.1 Member — Definition and Meaning
8.2 Member and Shareholder
8.3 Modes of Becoming Member

8.4 Who may become a Member
8.4.1 Minor
8.4.2 Company
8.4.3 A Partnership Firm
8.4.4 A Foreigner

8.4.5 President of India/Governor of a State
8.4.6 Society registered under the Societies Registration Act, 1860
8.4.7 Trade Union

8.5 Cessation of Membership
8.6 Rights of Members
8.7 Liability of Members
8.8 Register of Members (Sec. 150)
8.8.1 Index of Members

8.8.2 Rectification of Register of Members
8.9 Annual Return
8.10 Summary

8.11 Keywords
8.12 Review Questions
8.13 Further Readings

Objectives

After studying this unit, you will be able to:
Define member;

Describe shareholder;
Explain modes of becoming member;
Know partnership firm;

Describe cessation of membership.

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