Section 21 in Goa Co-operative Societies Rules, 2003
21. Valuation of shares or interest.
(1)Where a member of a society ceases to be a member thereof, the sum representing the value of his share or interest in the share capital of the society to be paid to him or his nominee, heir or legal representative, as the case may be, shall be ascertained by a valuation based on the financial position of the society as shown in the last audited balance sheet preceding the cessation of membership.(2)Where a person is allotted a share by the society, the payment required to be made therefor shall be as per the valuation based on the financial position of the society in the last audited balance sheet preceding such allotment.
