State Act
27
Section 27. Restrictions on transfer of share or interest.
THE PUDUCHERRY CO-OPERATIVE SOCIETIES ACT, 1972
Act no. 7 of 19731973In forcePuducherry (State Act)
27. Restrictions on transfer of share or interest.- No transfer by a member of any share held by him or his interest in the capital of a registered society or any part thereof shall be valid unless.- (a) the member has held such share or interest for not less than one year; and (b) the transfer is made to a member of the society with the approval of the committee.