Membership Hold. You can place your membership on hold for up to three months for the following reasons: vacation, financial, medical, work or school. If your membership hold is due to medical reasons, a doctorâs note is needed. During this period you will not be charged membership dues.
Legal Definition of statutory. 1  1 : of or relating to a statute or statutes a statutory provision. 2  2 : enacted, created, regulated, or defined by statute a statutory presumption a statutory insider.
Report Abuse. A statutory corporation is a corporation created by statute. The legislators pass a piece of law to create a corporation. On the other hand, other companies are corporations created under the provisions of Companies Act. Follow the procedures provided by the Companies Act and a corporation is created.A Statutory corporation is not necessary government owned. statutory corporation is not necessary a state-own-enterprise which will pay dividend, and in most of the time, it is a charity, a church. For example, the Scout Association of Hong Kong is a statutory corporation created under Scout Association of Hong Kong Chapter 1005.