A person who is at least 18 years old may be admitted as a member by submitting a written application, a subscription for the purchase of shares of the Co-op (which must not be less than one share), and any required payment for shares, each as set by the Directors from time to time.
There shall be only one member per Unit.
The Directors may, in their discretion, approve or refuse any application for membership or may postpone making a decision about any application for membership.
Subject to these Rules, eligibility for membership in the Co-operative is open in a non-discriminatory manner to individuals that are able to fulfill the responsibilities and conditions of membership.
Membership is effective when:
(a) Directors approve the application for membership;
(b) The applicant complies with the occupancy requirement of Rule 2.7; and
(c) The applicant purchases the required shares.
The Co-op, by special resolution, may change the minimum number of shares a member must hold. If the minimum number of shares is increased by special resolution, each member is deemed to have subscribed for the increased number of shares and must make any required additional payments for the shares.
Membership in the Co-op is limited to persons who live in the Unit in the Co-op on a full-time basis as their principal residence, however, the Directors may exempt, in their discretion and upon the terms they see fit, an existing member from the application of this Rule.
A minimum of 75% of all Units of the Co-op must be occupied by members of the Co-op, unless the Co-op changes the number of Units by an ordinary resolution.
Despite Rule 2.7, the Co-operative Housing Federation of British Columbia (CHF BC) is a member of the Co-op. (removed by May 8th, 2019 Special Resolution)