Information regarding Share Certificate of Housing Societies
Information regarding Share Certificate of Housing Societies Share Certificate is one of the most important documents issued to the members of the Co-operative housing society As per Model Bye-laws# 9(a): A Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the Member, the number of shares issued and the value paid there on, shall be issued by the Society to every Member for the shares subscribed by him, within a period of six months of the allotment of the shares. In Maharashtra, societies are governed by Maharashtra Cooperative Societies Act. This Act provides the rules and regulations governing Cooperative Housing Societies also. Total Authorized Share Capital of a Co operative Society is fixed by Registrar of Co op Societies at the time of registering the Society. This share capital is divided into shares of Rs 50/- each. After the amendment to the byelaws in 2014, in cooperative housing societies in Maharashtra, each member has...
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