Section 23: Restrictions on transfer of shares or interest
Kerala Co-operative Societies Act 1969State Act of Kerala · Act 21 of 1969
(1)The transfer of a share or interest of a member in the capital of a society shall be subject to such conditions and restrictions as to the maximum holdings as are specified in section 22.
(2)No transfer by a member of his share or interest in a society shall be valid unless-
(a)the member has held such share or interest for not less than three years; and
(b) the transfer is approved by the committee of the society