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State of Himachal Pradesh - Section

Section 17 in Himachal Pradesh Co-Operative Societies Rules, 1971

17. With-drawl of membership.

(1)Subject to the provisions of the Act, and the rules and the bye-laws of the society, a member may withdraw from the society after giving three months' notice to the Secretary of the society as regards his intention to resign from membership of the society.
(2)No resignation of membership shall be accepted by the society unless the member has paid in full his dues, if any, to the society, and has also cleared his liability, if any, as surety to any other member or otherwise.
(3)The with-drawl from membership shall also be subject to such restrictions regarding the maximum amount of share capital that can be refunded in a year, or as may have been provided for in the Act, the rules or bye-laws of the society.
(4)Any member, whose resignation has been accepted by the society, or a member who has been expelled from membership, or any heir or legal representative of a deceased member, may demand refund, of the share capital held by such member or deceased member and the society shall subject to the provisions of section 23 and 24 and subject to the provisions of the bye-laws, refund the amount within six months from the date of acceptance of the resignation, or expulsion, or as the case may be, or the date of demand made by the heir or legal representative of the deceased member :Provide further that such with-drawl 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] [Amended vide notification No.Coop. A(3)-1/99-Vol.-I dated 25-7-2006 published in Rajpatra dated 27-7-06.], of the preceding co-operative year.
(5)Irrespective of what is contained in the foregoing sub-rules of this rule, 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 retired in such a manner, and during such period as may be determined by the Registrar from time to time.