Section 20(2) in The Assam Co-operative Societies Act, 1949
(2)Except as otherwise provided in this Act no transfer or charge of his share or interest by a member of society with unlimited liability shall be valid unless-(a)he has held charge 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.
