Section 75March 10, 1990, Sec./Art. 75

Assignment of Share Capital Contribution or Interest. - Subject to the provisions of this Code, no member shall transfer his shares or interest in the cooperative or any part thereof unless:

(1) He has held such share contribution or interest for not less than one (1) year;

(2) The assignment is made to the cooperative or to a member of the cooperative or to a person who falls within the field of membership of the cooperative; and

(3) The board of directors has approved such assignment.