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Section 23

The Uttarakhand Co-Operative Societies Act, 2003State Act of Uttarakhand · Act 5 of 2003

(1) The transfer of a share or interest of a member in the capital of a cooperative society shall be subject to such conditions and restrictions as to the maximum holding as are specified in section 22.

(2) No transfer by a member of his share or interest in the capital of a cooperative society shall be valid unless—

(a) the member has held such share or interest for not less than one year;

(b) the transfer is made to the society or a member of the society; and

(c) the transfer is approved by the committee of management of the society.

(3) Notwithstanding anything contained in sub-section (2) a co-operative society may, subject to such conditions as may be prescribed, permit the transfer of, acquire or retain the share or interest of any member in the capital of the society.

------------------------------------------- Transfer of interest on death of member

Where this provision sits

ActThe Uttarakhand Co-Operative Societies Act, 2003
Section23
JurisdictionState of Uttarakhand
StatusIn force as published by the source

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