Section 35
Redemption of shares.
The Multi-State Co-operative Societies Act, 2002
About this Act
An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operative s as peoples institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto.
(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.
(2) The redemption of shares referred to in sub-section (1) shall be on the face value of the shares.