Section 20(2) in The Meghalaya Co-operative Societies Act
(2)Except as otherwise provided in this Act no transfer or charge of his share or interest by a member of a society with unlimited liability shall be valid unless(a)he has held such share or interest for not 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.
