When a member oh registered society is expelled or withdraws or otherwise ceases to be a meml under this Act, rules or bye-laws his share or interest shall be transferred 1 another eligible person, and the value thereof, determined in accordance with ti rules, shall be paid to such ceased member if his share or interest is not f< under the provisions of this Act, rules or bye-laws or if he is insane, to any , appointed to manage his properties under the Indian Lunacy Act, 1912 (IV 1912) ; provided that if there is no eligible transferee and if die bye-laws of t society so provide the value of his share or interest determined in accordance wi the bye-laws shall be paid to him or, if he is insane, to any person appointed i manage his properties under the Indian Lunacy Act, 1912.
Section 25: Disposal of shares or interest of ceased members
The Assam Co-operative Societies Act, 1949State Act of Assam · Act 1 of 1950
Where this provision sits
| Act | The Assam Co-operative Societies Act, 1949 |
|---|---|
| Section | 25 |
| Marginal note | Disposal of shares or interest of ceased members |
| Jurisdiction | State of Assam |
| Status | In force as published by the source |
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