Section 23 in Kerala Cooperative Societies Act, 1969
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 restriction 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
