Section 81 in The West Bengal Co-Operative Societies Act, 1983
81. [ Disposal of share or interest of member on expulsion or resignation or on becoming insane. - [Section 81 substituted by West Bengal Act 21 of 1990.]
When a member of a co-operative society is expelled or resigns in accordance with the rules or the bylaws of the co-operative society or becomes insane, his share or interest in the capital or the co-operative society shall be transferred to a person qualified to be a transferee of such share or interest under section 78, and the value thereof shall be paid to the member or, in the case of his becoming insane, to such person as may be appointed to manage his properties under the Mental Health Act, 1987, within two years from the date on which the member is expelled or resigns or the person as aforesaid is appointed, as the case may be.] [Sub-Section (1) substituted by West Bengal Act 27 of 1997.]
