Section 41 in Tamil Nadu Co-operative Societies Rules, 1988
41. Classes of cases in respect of which refund of share or interest in the capital may be made before the expiry of two years.
- Refund of share or interest in the capital of a member may be made before the expiry of the period of two years from the date of his taking the share or interest in the capital in the following classes of cases, namely:-(i)where a person joins a society as a member and takes shares in the society for the purpose of obtaining loan or service and the loan or service applied for by such person is not sanctioned or refused; or(ii)where a member takes additional shares in the society for the purpose of obtaining loan or service and the loan or service applied for by such member is not sanctioned or refused.
