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Co-Operative Societies Act, 1912 14. Restrictions on transfer of share or interest (1) The transfer or charge of the share or interest of a member in the capital of a registered society, shall be subject to such conditions as to maximum holding as may be prescribed by this Act or by the rules. (2) In case of a society registered with unlimited liability a member shall not transfer any share held by him or his interest in the capital of the society or any part thereof unless- (a) he has held such share or interest for not less than one year; and (b) the transfer or charge is made to the society or to a member of the society.    |
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