Section 17(4) in Himachal Pradesh Co-Operative Societies Rules, 1971
(4)Any member, whose resignation has been accepted by the society, or a member who has been expelled from membership, or any heir or legal representative of a deceased member, may demand refund, of the share capital held by such member or deceased member and the society shall subject to the provisions of section 23 and 24 and subject to the provisions of the bye-laws, refund the amount within six months from the date of acceptance of the resignation, or expulsion, or as the case may be, or the date of demand made by the heir or legal representative of the deceased member :Provide further that such with-drawl of shares at any time shall not exceed five per cent of the aggregate paid up share capital of the society, excluding Government contributions, as it stood on the [31st March] [Amended vide notification No.Coop. A(3)-1/99-Vol.-I dated 25-7-2006 published in Rajpatra dated 27-7-06.], of the preceding co-operative year.
