Co-operative Societies Act : Restrictions on transfer of share or interest Indian Bare Acts :

Co-operative Societies Act,1912

Act No : 2

Section : Restrictions on transfer of share or interest

14. Restrictions on transfer of share or interest. (1) The transfer or charge of the share or interest of a member in the capital of a registered society shall be subject to such conditions as to maximum holding as may be prescribed by this Act or by the rules. (2) In case of a society registered with unlimited liability a member shall not transfer any share held by him or his interest in the capital of the society or any part thereof unless-- (a) he has held such share or interest for not less than one year; and (b) the transfer or charge is made to the society or to a member of the society. DUTIES OF REGISTERED SOCIETIES