Section 77(2) in West Bengal Co-operative Societies Act, 2006
(2)No transfer or change of a share or interest by a member of a Co-operative society with unlimited liability shall be valid unless-(a)he has held such share or interest (save in the case of transfer under sections 70, 71, 73 or 74) for not less than one year; and(b)the transferee or the mortgagee is either a member of such Co-operative society or a person whose application for membership has been accepted by the Co-operative society.
