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Section 22: Procedure for transfer of shares

The Goa Co-operative Societies Rules, 2003State Rules of Goa · 2001

(1) No transfer of shares shall be effective unless,—

(a) it is made in accordance with the provisions of the bye-laws;

(b) a clear fourteen days notice in writing is given to the society indicating therein the name of the proposed transferee, his consent, his application for membership alongwith nomination form;

(c) all liabilities of the transferor due to the society are discharged or are accepted by the transferee;

(d) the transfer is registered in the books of the society together with the lien.

(2) Any charge in favour of the society on the share so transferred will continue unless discharged otherwise.

Where this provision sits

ActThe Goa Co-operative Societies Rules, 2003
Section22
Marginal noteProcedure for transfer of shares
JurisdictionState of Goa
StatusIn force as published by the source

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