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

Restrictions on transfer of share or interest. 14. (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.