Section 50(4) in The Bihar Co-operative Societies Rules, 1959
(4)If a person ceases to be a member of a society on any ground other than expulsion or death, the value of the shares held by him shall on the expiry of one year in general from the date on which he ceases to be a member be refunded to him or to his heir, as the case may be, subject to adjustment of dues, if any, of the society and no dividend shall be payable from the said date but interest may be allowed thereon at a rate not exceeding such rate as may be fixed for savings bank deposits by the general meeting.
