State Act
28
Section 28. Restrictions on withdrawal of share.
THE PUDUCHERRY CO-OPERATIVE SOCIETIES ACT, 1972
Act no. 7 of 19731973In forcePuducherry (State Act)
28. Restrictions on withdrawal of share.- Except in the case of death or expulsion or cessation of membership for residing outside the area of operations of the society, the share of a member shall not be refunded, unless- (a) the member has held the share for not less than five years; and (b) such refund is in accordance with the by-laws of the society.