Amendment status not verified — confirm the current text below against the official source.
[(1)]No member of a society shall exercise the rights of a member unless he has made such payments to the society in respect of membership or has acquired such interest in the society, as may be prescribed by the rules or the bye-laws. [(2) If the general body of a society has decided to enhance the share value, the right of a member to continue in membership will remain for a period of five years from the date of enhancement of value of share but shall be allowed to exercise his rights as a member only upon remitting the enhanced value of the shares held.] Numbered by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Inserted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024).