Section 18 in Haryana Co-operative Societies Rules, 1989
18. Withdrawal from membership.
- Section 131(2)(xx). - (1) In a co-operative society with unlimited liability, a member who is not indebted to a co- operative society and is not a surety for unpaid debt, may withdraw from the co-operative society after giving such notice to the Secretary of the Society as may be laid down in the bye-laws of the Co-operative Society.(2)In a co-operative society with unlimited liability, a member, who withdraws from the society ceases to be its member, shall be entitled to repayment without interest of any money paid by him or his predecessor in interest towards the purchase of shares after such period as may be laid down in the bye-laws.(3)No member of a co-operative society with limited liability shall ordinarily be permitted to seek withdrawal or refund of his shares :Provided that where the society has created a share transfer fund out of its earned profits, its managing committee shall, keeping in view the overall interest of the society, allow withdrawal of shares:Provided further that such withdrawal of shares at any time shall not exceed five per cent of the aggregate paid up share capital of the society, excluding Government contributions, as it stood on the 31st March of the preceding year.(4)Irrespective of the nature of liability of a Co-operative Society the share capital subscribed by the State Government in a Co-operative Society or by a Central or Apex Co-operative Financing Institution will be refunded in such manner and during such period as may be determined by the Registrar from time to time.(5)A central or Apex Society having individual members, shall refund the shares of all the individual members.
