Section 78(2) in The West Bengal Co-Operative Societies Act, 1983
(2)No transfer or charge of his share or interest by a member of a co-operative society with unlimited liability shall be valid unless-(a)he has held such share or interest (save in the case of transfer under sections 80, 81, 83 or 84) for not less than one year; and(b)the transferee or the mortgagee is either a member of such cooperative society or a person whose application for membership has been accepted by any other co-operative society.
