Section 14 of the Co-operative Societies Act, 1912 – Restrictions on transfer of share or interest

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Section 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

Source: official text of The Co-operative Societies Act, 1912 as published on India Code (PDF). All sections of the Co-operative Societies Act, 1912.

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