I am newly appointed secretary of our school co-operative society under “HOOGHLY DISTRICT CENTRAL CO-OPERATIVE SOCIETY”. My query is “Is the loan taken share money be transferable to one member to another member”?
One more thing–Previous secretary has lost the bye laws. How will I get the new one?
If any body have any idea about this please reply ASAP.
I just want to tell, which happens in our School-
** If I want to transfer share amount 5000/- (Let share amount be generate 10% of loan amount), then to whom I want to transfer, he should take loan 50,000/- and my share is transfer to his head and he pay me cash 5000/- this is a option acc. to by law (but the total share does not exceeds the upper limit of share mentioned in resolution by last AGM.).
** I asked second question to our Co-ope. secretary acc. to him, from ARCS you may manage the by law.