Section 29(2) in The Maharashtra Co-Operative Societies Act, 1960
(2)A member shall not transfer any share held by him or his interest in the capital or property of any society, or any part thereof, unless-(a)he has held such share or interest for not less than one year;(b)the transfer is made to a member of the society or to a person whose application for membership has been accepted [by the society, or to a person whose appeal under section 23 of the Act has been allowed by the Registrar; or to a person who is deemed to be a member under sub-section (1A) of section 23.] [This portion was substituted for the words 'by the society', by Maharashtra 20 of 1986, Section 17.].
