Arthur Zuma completed his MBA degree from the University of the North. Arthur has a greatpassion for
Question:
Arthur Zuma completed his MBA degree from the University of the North. Arthur has a greatpassion for finance and banking. Arthur has over 15years' experience inbanking and finance.Arthur, intends to start a mutual bank called AZ Mutual Bank in terms of the Mutual BanksAct 124 of 1993, in order to promote savings, and to provide ownership in the bank for peoplewithin his community. through a mutual saving funds offered by his bank.However, Arthur does not understand the legal implications of his mutual bank.Arthur, is also a local preacher within his community, and also runs his own church called,Future Gospel. The church has been more of an informal set up, but Arthur would like tounderstand the legal implications of running a church. Arthur approaches you for advice.
Required:
Identify and explain how Arthur's business, AZ Mutual Bank, will function in the context of the law as a legal subject, rights and obligations.
Expert Answer:
Starting with AZ Mutual Bank as a mutual bank operating under the Mutual Banks Act 124 of 1993 it will have certain legal implications Legal Subject A... View the full answer
