Section 53 in Assam Co-Operative Societies Act, 2007
53. Validity of transfer or charge of share or interest.
- Except otherwise provided in this Act no transfer or charge of his share or interest by a member of a society with unlimited liability shall be valid unless-(a)he has held such share or interest for not less than one year; and(b)the transferor or mortgager is either a member of such society or a person "mere application for membership has been accepted.
