Section 71 in West Bengal Co-operative Societies Act, 2006
71. Disposal of share or interest of member on expulsion or resignation or on becoming insane.
- When a member of a Co-operative society is expelled or resigns in accordance with its by-laws or becomes insane, his share or interest in the capital of the Co-operative society shall be transferred to a person qualified to be a transferee of such share or interest under section 77, and the value thereof shall be paid to the member after deducting his dues, if any or in the case of his becoming insane, to such person as may be appointed by the competent authority to manage his properties under the Mental Health Act, 1987 (35 of 1987) within two years from the date on which the member is expelled or resigns or the person as aforesaid is appointed. as the case may be.
