Short Answer

Yes, a member can hold shares in more than one cooperative society at the same time.

Detailed Explanation

Section 29 of the Gujarat Cooperative Societies Act, 1961 allows a person to be a member of more than one cooperative society. This means that an individual can hold shares in multiple cooperative societies simultaneously. This provision gives members the flexibility to participate in different cooperative societies based on their interests and needs.

In practice, this provision enables individuals to diversify their investments and involvement in various cooperative societies. For example, a person may hold shares in a credit cooperative society for financial services and also be a member of an agricultural cooperative society for farming-related activities. This allows members to benefit from different cooperative societies based on their specific requirements.

Real-world Scenarios

• Mr. Patel is a member of two cooperative societies - one for housing and another for consumer goods. He holds shares in both societies, benefiting from the services and products offered by each.

• Ms. Desai is a member of a cooperative society for dairy products and another for handicrafts. By holding shares in both societies, she supports different sectors and enjoys the perks of membership in each.

Reference

• Section 29 of the Gujarat Cooperative Societies Act, 1961: Official PDF