Section 20(2) in Sikkim Co-Operative Societies Act, 1955
(2)Except or otherwise provided in this Act, no transfer or change of his share or interest by a member of society with unlimited liability shall be valid unless:(a)he has held such share or interest for less than one year; and(b)the transferee or mortgagee is either a member of such society or a person whose application for membership has been accepted.
