SHAREHOLDER MEMBERSHIP
 
Bro Myrddin Housing Association was formed in 1989.  Its primary objective is the provision of housing and related services for those in housing need throughout Carmarthenshire. 

As a registered, charitable, housing association, it must comply with the requirements of the Housing Corporation and the Registry of Friendly Societies. 

As an Industrial & Provident Society, Bro Myrddin is “owned” by its shareholders whose key power is to elect the Board which is the effective governing body and has adopted the latest National Housing Federation's Model Rules 2005 (the Rules).  

Obligations of the Shareholder
 
All shareholders must agree to the obligations set out in the Rules and, when acting as shareholders, must act at all times in the interests of Bro Myrddin Housing Association. 

As shareholders you will be required to participate in general meetings of the association or to send apologies.

Admission of New Shareholders
    
Bro Myrddin welcomes applications for shareholding membership from residents, partners and those living and working in the communities it serves who have an interest in and commitment to the association’s work.
 
Shareholding membership provides:
 
A pool of interested and committed individuals and organisations from which new board members may be drawn.  A link with the areas and communities which the association serves.

One of several ways in which the association accounts for its activities and performance.   

• A shareholder can be an individual person or an organisation.
         > No-one may hold more than 1 share.
   

• You cannot be a shareholder if you are :
         > A minor
         > An employee of the association
         > Someone who has been expelled and not reinstated. 

 All applications for shareholding membership will be considered by the board which has the discretion to accept or reject applications.

• The applicant shall apply:
         > In writing give
         > Reasons for applying
         > Pay £1 (refundable if the application is unsuccessful)  

If approved, the new shareholder will be sent one share and a copy of the Rules. If for any reason an application is rejected the Chair will write setting out the reasons for the board’s decision. 
 
Shares will not be issued between 1^st April and the date of the Annual General Meeting, as it might adversely affect the annual elections to the Board of Management