Section 29 in Tamil Nadu Co-operative Societies Rules, 1988
29. Procedure for refund of value of share or interest in the capital by financing bank or apex society to individual members on the cessation of membership.
(1)The financing bank or the Apex Society shall, within thirty days from the date specified in the notification issued under clause (b) of sub-section (1) of section 21, by notice in writing, require the individual concerned or his nominee, heir or legal representative, as the case may be, to receive his share or interest in the capital and other moneys due to such individual within thirty days from the date of receipt of the notice.(2)If the individual concerned or his nominee, heir or legal representative, as the case may be, fails to receive the share or interest in the capital and other moneys due to him within thirty days from the date of receipt of the notice under sub-rule (1), the amount representing (he share or interest due to him shall, forthwith, be credited to a suspense account.
