Section 28 in The Tamil Nadu Co-Operative Societies Act, 1983
28. Restrictions on transfer of share or interest.
- No transfer by a member of any share held by him or his interest in the capital of a registered society or any part thereof shall be valid unless(a)the member has held such share or interest for not less than one year; and(b)the transfer is made to a member of the registered society with the approval of the board.
