Termination of Membership

Circumstances under which a person ceases to be a Member 55. The person shall cease to be the Member of the Society: a. On his resignation from Membership of the Society having been accepted by the committee. b. On transfer of all his shares and interest in the capital/property of the Society. c. On his death. d. On his expulsion from the Membership of the Society. e. On being adjudged as an insolvent or legally disabled from continuing as Member. f. If the whereabouts of the Member are not known for continuous seven years and if his shares & interest in the property/capital of the Society is not claimed by anybody else. g. On cessation of right/title & interest of a Member in the property of the Society, by way of legal attachment or sale. h. Any transfer if void as provided under bye law number 39 (d) The Committee shall take further action in the matter as indicated in the bye-law No.59.