Section 26 in The Delhi Co-operative Societies Rules, 2007
26. Withdrawal of members.
(1)Subject to the provisions of the Act, these rules and the bye-laws of a co-operative society, a member may withdraw his membership by submitting a resignation in writing to the society and the committee shall dispose off his resignation within forty five days after receipt of the resignation.(2)No resignation of a member shall be accepted by the co-operative society unless the member has paid in full his dues, if any, to the co-operative society and has also cleared his liability, if any, as surety to any other member. In case of co-operative housing societies committee shall endorse a copy of resolution under sub-rule (2) within twenty one days to the Registrar.(3)Any member, whose resignation has been accepted by the co-operative housing society, or any heir or legal representative of a deceased member, may demand refund of the share capital held by such member or deceased member and the co-operative society shall, subject to the provisions of section 27 or section 28, as the case may be and subject to the provisions of the bye-laws, refund the amount within ninety days after the acceptance of resignation or as the case may be, the date of demand by the heir or legal representative of the deceased member. Intimation regarding acceptance of resignation shall be sent by registered post to the member and in case of cooperative housing society a copy of the same shall also be sent to Registrar.(4)In all cases where share capital is to be refunded, valuation of the shares shall be made in accordance with the provisions contained in rule 27(5)Irrespective of the nature of liability of a co-operative society, the share capital subscribed by the Government in a co-operative society or by a Apex/ Federal/Central will be retrieved in such a manner and during such period as may be determined by the Registrar from time to time.
