Nominal members

(1) A society may admit any individual or other person or firm as a nominal member in accordance with its bye-laws. (2) A nominal member shall not be entitled to any share, in any form whatsoever, in the assets or profits of the society or to become an officer of the society. (3) A nominal member shall have such privileges and rights of a member as are, subject to such liabilities of a member, as may be specified in the bye-laws of the society.