The Multi-State Co-operative Societies Act

Persons who may become members

Nominal or associate member of society

Educational course for members

Members not to exercise rights till due payment made

Disqualification for member of a multi-State co-operative society

Expulsion of members

Vote of members

Manner of exercising vote

Restriction on holding of shares

Restriction on transfer of shares or interest

Redemption of shares

Transfer of interest on death of members

Liabilities of past member and estate of deceased member


MEMBERS OF MULTI-STATE CO-OPERATIVE SOCIETIES AND THEIR DUTIES, RIGHTS AND LIABILITIES


(1) Shares held in a multi-State co-operative society by any of the
authorities referred to in clauses (c) to (g) of sub-section (1) of section 25 shall be redeemable in
accordance with the bye-laws of such multi-State co-operative society and in a case where the byelaws do
not contain any provision in this regard, in such manner as may be agreed upon between the multi-State
co-operative society and such authority.

(2) The redemption of shares referred to in sub-section (1) shall be on the face value of the shares.

LAWGIST

# 35 Redemption of shares