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[Cites 0, Cited by 0] [Section 18] [Entire Act]

State of Haryana - Subsection

Section 18(3) in Haryana Co-operative Societies Rules, 1989

(3)No member of a co-operative society with limited liability shall ordinarily be permitted to seek withdrawal or refund of his shares :Provided that where the society has created a share transfer fund out of its earned profits, its managing committee shall, keeping in view the overall interest of the society, allow withdrawal of shares:Provided further that such withdrawal of shares at any time shall not exceed five per cent of the aggregate paid up share capital of the society, excluding Government contributions, as it stood on the 31st March of the preceding year.