Section 16(1) in Rajasthan Co-operative Societies Act, 2001
(1)A person shall cease to be a member of a society on his resignation from the membership thereof being accepted or on his death, removal or expulsion from membership or on his incurring any of the disqualifications specified in this Act, the rules or the bye-laws of the society. On such cessation of the membership the society may acquire the share or interest of such member in the share capital of the society by paying for it at the value determined in the manner as may be prescribed.
