Draft — not yet finally notified. Once officially notified, your society must formally adopt these bye-laws via a resolution passed in its General Body Meeting (GBM) before they replace your existing 2014 bye-laws. This draft has been shared by the Co-operative Department for public consultation — you can submit suggestions via email at coophsgmodelbyelaws@gmail.com before the deadline of 27th August 2026.
Restriction on Assignment of Occupancy Rights
(a) No Member shall assign, mortgage or create any charge on his occupancy rights in the flat without prior permission in writing of the Society.
(b) Such permission shall not be required where the assignment, mortgage or charge is created for obtaining loan or repayment of loan from:
(i) Employer;
(ii) Life Insurance Corporation of India;
(iii) Bank or Financial Institution;
(iv) The Society;
(v) Any agency approved by the Government or Commissioner for Co-operation.
(c) The Member shall, however, intimate the Society of such transaction and submit necessary documents for record.
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