44. [Restriction on transfer of shares in a Co-operative Farming Society. [Effect from 17.1.1977, vide Notification No. 158L Ref/2A-26/76, dated 14.1.1977.]
(1) The shares held by a member of Co-operative Farming Society shall not be transferred to any person other than another member of the society or a raiyat or other person residing in the locality in which the society has been established.(2)Subject to restrictions mentioned in sub-section (1), the shares held by a member of a Co-operative Farming Society shall be transferable and heritable.] [Inserted by the West Bengal Land Reforms (Amendment) Act, 2005, published in the Kolkata Gazette, Extraordinary, Part III, dated 11.11.2005.]
