Section 108 in The Goa Co-operative Societies Act, 2001
108. Restriction on transfer of share or interest of a member.
- Subject to the provisions of this Act, in the case of a co-operative housing society, no transfer of share or interest of a member in the society or the occupancy right, except the transfer to his heir or a nominee, shall be effective, unless:-(a)the transferor vacates and gives possession of the premises to the transferee provided that the transferor may give possession of the premises pending the society's approval for transfer;(b)the dues of the society are paid or transferred to the transferee with the consent of the society;(c)the transfer fees or transfer charges, as may be specified in the society's bye-laws, are duly paid;(d)the previous permission of the society has been obtained in this behalf in writing and the transferee has been admitted as member.
