A member may resign or withdraw from the society by selling or transferring shares to another member or any eligible member. Any monies due to the member will be refunded after deducting any liabilities to the society as a borrower, guarantor, Endorser or otherwise.
A member who voluntarily withdraws from the society shall not be entitled to any money paid by him or shares if the society holds loans or deposits from non-members
Such member may re-apply for re-admission subject to the following conditions:
Expulsion:-
A member may be suspended from membership by the committee pending a final decision on expulsion by a members’ General Meeting who may reinstate or confirm the expulsion. A member may be expelled due to the following reasons:-
- Any action adjudged to the prejudicial to the society and the spirit of co-operation
- Repeated failure to pay any sum due to the society.
A member who withdraws or is expelled shall be repaid the following amounts after deductions of any debts, owed by him to the society as borrower, endorser, guarantor, or otherwise.
- Any dividends or interest due to him on the date membership ceased
- Any deposit or other sums held by the society on his behalf