This community is registered with the Registrar of Co-operative Societies as a "Community Settlement Society" as required by the Co-operative Act 1959. A set of rules are required by this Act and these are available from our secretary or treasurer.
Membership and Shareholding
(Please note: The figures here are not current. Please contact the Membership Committee for further information.)
The most important qualification for membership of the community will be the concern of the individual for the aims of the community and his/her personal compatibility with other members. This will not be determined by any formal 'entrance interview' but rather by extended social contact between members prior to full participation. It will be as much up to the individual himself/herself to determine his/her own compatibility as it will be up to the existing members. We request that potential members share our concerns, and spend some time getting to know us before asking to join. The first concrete expression of a desire to pursue membership is to become a 'friend' of Moora Moora. The symbol of this is the payment of a non-interest bearing $100 loan to the co-operative at 3 months call.
There are two types of membership available. Residential membership requires a share holding of a minimum of 6000 $1 shares. This represents a share in the land of the community and the services available as well as eligibility for a building lease. In order to gain a lease a member must either join together with at least one other residential shareholder or hold a minimum of 9000 shares. Before a lease will be issued the member must be accepted by mutual agreement by the members of the cluster which he wishes to join.
Non-residential membership is available for those who do not wish to build on the land and requires a share holding of 4000 $1 shares. These members are entitled to full membership rights, except a building lease and farming rights.
All people over the age of 18 years are eligible for full membership of the community. Members' offspring over 18 will have priority over other applicants when we achieve our planned community size.
Initially 360,000 $1 shares were issued and were held by members. The shares are not paid up to their full value and quarterly calls are made to pay off the property. An incoming member buys his shares at their current paid up value from either a member who wishes to leave the co-operative or a member who holds an excess number of shares. All share transfers must be approved by the co-operative. The planned membership is 60 residential members holding 6000 shares each and 20 non-residential members holding 4000 shares each. Some financial assistance may be available to assist people with limited financial means.
We do not desire a rapid turnover in membership of this community. A member wanting to sell his shares and any assets he holds in the co-operative (such as a home and his share of the cluster development) must continue honouring membership commitments until the sale can be arranged. Every effort will be made in helping the leaving member sell within a reasonable time. A member wanting to leave promptly may forfeit his shares and assets to the co-operative.