Section 72 in West Bengal Co-operative Societies Act, 2006
72. Restriction on transfer of possession of, and interest in land held under Co-operative society.
- Notwithstanding anything contained elsewhere in this Act or in any other law for the time being force:(a)a member of a Co-operative society, the object of which is the reclamation or acquisition of land and leasing thereof to its members, shall not be entitled to transfer his possession of, or interest in, any and held by him under the Co-operative society except to the Co-operative society or with its previous approval in accordance with its by-laws, to a new member thereof;(b)when the membership of a member of a Co-operative society referred to in clause (a) terminates by reason of death, expulsion, resignation, insanity or any other cause, his possession of or interest in, and land held by him under the Co-operative society shall vest in his heir, executor or administrator or in the person, if any, nominated by him under section 76, if such heir, executor administrator or person is willing to be admitted as a member of the Co-operative society and is eligible for membership under section 64;(c)if the heir, executor, administrator or person referred to in clause (b) does not become a member of the Co-operative society, the possession of, and interest in, the land including structure thereon, if any, of the deceased, expelled, resigned or insane member shall vest in the Co-operative society and the Co-operative society shall pay to such heir, executor, administrator or person, as the case may be, a sum equivalent to the value of the land including the structure, if any, as determined on the basis of prevailing market price;(d)no land held by a member under the Co-operative society referred to in clause (a) or vested in his heir, executor or administrator or the person under clause (b), shall be attachable in any suit or proceedings for recovery of any debt other than a debt due to the Co-operative society.
