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Section 81

The Uttar Pradesh Co-operative Societies Rules,1968State Rules of Uttar Pradesh · 1966

(a) No transfer of shares by a member of a co-operative society to any person shall be effective unless-

(i) it is made in accordance with the provisions of the Act, rules and the byelaws of thesociety;

(ii) a clear thirty day's notice in writing is given to the society indicating there in the name of the proposed transferee, his consent and application for membership, where necessary, and the value proposed to be paid by the transferee;

(iii) all liabilities of the transferor to the society are discharged;and

(iv) the transfer is registered in thesociety.

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

Where this provision sits

ActThe Uttar Pradesh Co-operative Societies Rules,1968
Section81
JurisdictionState of Uttar Pradesh
StatusIn force as published by the source

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