Model By–Laws of Cooperative Housing Society
VII. MEMBERS, THEIR RIGHTS, RESPONSIBILITIES AND LIABILITIES
II. RIGHTS AND DUTIES OF MEMBERS
(4) Resignation by a Nominal Member, who is Sub-lettee, Licensee, Caretaker etc. (Bylaw No. 31)
Bylaw No 31. Acquisition of shares and interest of the Member in the capital/property of the Society
On acceptance of the resignation of the Member, under bylaw No. 27, the Society shall acquire the shares and interest of the Member in the capital/ property of the Society and pay him the value thereof as provided under the bylaw No. 66.