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Home » Nigeria CAMA 2020 » Section 105 Companies and Allied Matters Act 2020

Section 105 Companies and Allied Matters Act 2020

Section 105 CAMA 2020

Section 105 Companies and Allied Matters Act is about Definition of member. It is under Chapter 6 (Membership of the Company) of PART B (Incorporation of Companies and Incidental Matters) of the Act.

Definition of member

(1) A subscriber of the memorandum of a company shall be deemed to have agreed to become a member of the company, and on its registration shall be entered as the member in its register of members.

(2) Every other person who agrees in writing to become a member of a company, and whose name is entered in its register of members, is a member of the company.

(3) In the case of a company having a share capital, each member is a shareholder of the company and shall hold at least one share, except in relation to a company that has only one shareholder.

See also  Section 220 Companies and Allied Matters Act (CAMA) 2020

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