Short Answer

The society must approve or reject a membership transfer after sale within 90 days.

Detailed Explanation

Section 29 of the Gujarat Cooperative Societies Act, 1961 states that the society must approve or reject a membership transfer after sale within 90 days from the date of application. If the society fails to take any action within this period, the transfer shall be deemed to have been approved. This provision ensures that the transfer process is completed in a timely manner, preventing unnecessary delays for the parties involved.

In practice, this means that once a member applies for a transfer of membership after selling their property, the society must review the application and make a decision within the specified 90-day period. If the society fails to do so, the transfer will be considered approved by default. This timeframe provides clarity and certainty to both the transferring member and the society, ensuring a smooth and efficient transfer process.

Real-world Scenarios

• Mr. Patel sells his flat in a cooperative housing society and applies for a transfer of membership to the buyer. The society must review and approve or reject the transfer within 90 days of receiving the application.

• In case the society faces delays in processing the transfer due to administrative reasons, they must still adhere to the 90-day timeline to avoid automatic approval of the transfer.

• If the society rejects the membership transfer, they must provide valid reasons for the rejection within the stipulated timeframe to maintain transparency and fairness in the process.

References

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