CONDITIONS OF MEMBERSHIP

Anybody is qualified to become a member provided he/she is of good financial character and preferably resides within the national territory and abroad.

FOR AN INDIVIDUAL

To become a member, you are expected to:

  • Visit any LOCCUL office with your national identity card, Residence permit or passport;
  • submit 2 passport size photos;
  • Pay registration fee of 2000frs
  • Subscribe for the minimum shares of 50,000FRS; maximum share of a member is 20% of total shares of members.
  • Pay building contribution fund of 5,000FRS;
  • Pay solidarity fund of 20,000FRS.
  • Preference shares of minimum 100,000frs attracting 3% interest rate per annum.
  • Localization plan
  • Taxpayer’s card
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FOR GROUPS OR CORPORATE BODY

They need to:

  • Submit 2 passport size photos;
  • Pay registration fee of 2000frs;
  • Subscribe for the minimum shares of 50,000FRS; maximum share of a member is 20% of total shares of members
  • Pay building contribution fund of 5,000FRS;
  • Pay solidarity fund of 20,000FRS;
  • Submit registration certificate;
  • Article of association;
  • Authorized signatories to the account.
  • National identity cards of each signatory
  • Preference shares of minimum 100,000frs attracting 3% interest rate per annum.
  • Localization plan.
  • Taxpayer’s card
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RIGHTS OF MEMBERS

Members have the right to:

Participate actively in the annual general meeting.

Vote and you can be voted as an elected official of LOCCUL

(Board of directors, Supervisory board, and women committee)

OBLIGATIONS OF MEMBERS

Members have an obligation to respect all their commitment with LOCCUL.

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