Section 13(4) in The Punjab Co-operative Societies Act, 1961
(4)When a co-operative society has passed any such resolution, it shall give notice thereof in writing to all its members and creditors and notwithstanding any bye-laws or contract to the contrary, any member or creditor shall during the period of one month of the date of service of the notice upon him; have the option of withdrawing his shares, deposits or loans, as the case may be.
