APCOS Act 27Chapter III · Members and their Rights and Liabilities
Section 27 · Restrictions on transfer of shares or interest
Text size — level 1 of 4
(1)
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 one co-operative year ; and(b)
the transfer is made to a member of the society.(2)
Notwithstanding anything in sub-section (1), no member of a tinancing bank or a federal society shall transfer his share or interest in such bank or society to an individual member, his heir or legal representative.Your private note on this section
Only you can see this note.