Model Bye–Laws of Cooperative Housing Society

1. I We/M/s.......................................... are the member of ................................. Co-operative Housing Society Ltd, having address at .......................................... and holding share certificate No...................................... for Twenty fully paid up shares of Rupees Fifty each bearing distinctive numbers from ............. To ............( both inclusive) and holding Flat/ Tenement No. ........................... Admeasuring ....................... sq. meters.in the building of the society, numbered/ known as.................................

2. I/We had given you notice of my intention to transfer the said shares and our interest in the capital / property of the society on. .....................................as requited under Rule 24 (1) (b) of Maharashtra Co-operative Societies Rules, 1961 along with the consent of the proposed transferee Shri/ Shrimati/ M/s........................................

3. I/We enclose herewith the application in the prescribed form for membership of the said society by the said proposed transferee named in the notice referred to above.

4. I/We remit herewith the transfer fee of Rs. 500/- (Rupees Five Hundred only). We also remit herewith the amount of the premium of Rs ...................................... (Rupees ..... ........ ...... only) as provided under bye law No.38 (e) (ix) of the bye laws of the society.

5. We state that the said shares and interest in the capital /property of the said society have been held by us for a period of not less than a year.

6. We state that the said shares and interest in the capital /property of the said society have been held by us for a period of not less than a year.

7. We hereby undertake to discharge any liabilities to the said society which are related to the period of our membership with the said society and have become payable by us after cessation of membership of the society due to any demand made by the local authority, Government or by any other Authority on any account after cessation of my membership.

8. We propose to transfer the said shares and our interest is the capital / property of the said society on the following grounds:

9. We also furnish herewith the undertaking in the prescribed form on one hundred Rupees stamp paper about the registration of the transfer as required under section 269-A-B of the Income Tax Act there under.

10. We have authorised Shri./Shrimati .................................. to sign the application for transfer on our behalf. A certified copy of the authority letter is enclosed herewith.

11. We request you to approve the proposed transfer and inform us accordingly.

Place:
Date: