Transfer of Shares
Relevant Act sections and Model Bye-laws relating to transfer of shares.
Relevant provisions
Restriction on transfer of share or interest of a Member
of this Act, in case of a housing society, no transfer of share or interest of a Member or the occupancy right, except the transfer of his heir or a nominee, shall be effective unless,— (a) the dues of housing society are paid ; (b) the transferee applies and acquires Membership of the co-operative housing society in due course of time : Provided that, the transfer of share or interest in respect of lease hold properties shall be governed by the terms of the lease, which are not inconsistent with lease of land to the co-operative housing society or with lease by housing society to its Members. Explanation.— For the purpose of this section, occupancy right shall not include right of a tenant or a licensee on leave and license basis.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Transfer of share, right, title and interest
title and interest of his property in the society by way of registered document by following the due procedure as provided in the rules or bye-laws.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Disclaimer: The statutory sections and Model Bye-laws displayed here are provided solely for general information and reference. They are not a certified legal publication or a certified copy of any society's registered/adopted bye-laws. Law, rules, notifications and society-specific bye-laws may be amended. In case of any discrepancy, the current official Act, Rules, Government Resolutions, Notifications, Circulars, competent-authority orders and the concerned society's registered/adopted bye-laws shall prevail. Users should verify the current applicable provisions and obtain professional legal advice where required.