Section 23(1) in The Arunachal Pradesh Co-operative Societies Rules, 1984
(1)No transfer of shares shall be effective unless,-(a)it is made in accordance with the provisions of the bye-laws;(b)a clear fifteen days' notice to writing is given to the society indicating therein the name of the proposed transferee, his consent, his application for membership, where necessary, and the value proposed to be paid by the transferee;(c)all liabilities of the transferor due to the society are discharged; and(d)the transfer is registered in the books of the society.
