State Act
23
Section 23. Restrictions on transfer of shares or interest.
Kerala Co-operative Societies Act 1969
Act no. 21 of 19691969In forceKerala (State Act)
23.Restrictions on transfer of shares or interest.-(1)The transfer of a share or interest of a member in the capital of a society shall be subject to such conditions and restrictions as to the maximum holdings as are specified in section 22. (2)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 three years; and (b) the transfer is approved by the committee of the society