Section 14(2) in The Co-Operative Societies Act, 1912
(2)In case of a society registered with unlimited liability a member shall not transfer any share held by him or his interest in the capital of the society or any part thereof unless-(a)he has held such share or interest for not less than one year; and(b)the transfer or charge is made to the society or to a member of the society.Duties Of Registered Societies
