Can shares of a co-operative bank be surrendered back?

Once I become a share holder of a co-operative bank by paying Rs. 25,000 and I need my money back at a later point of time, can I surrender my shares and get my money back?

One Reply to “Can shares of a co-operative bank be surrendered back?”

  1. For that you should read the Co-op’s Articles of Incorporation or Bylaws. They may have provisions for redemption of shares upon withdrawal of membership. You should look for the article which could look something like this:
    “Redemption of shares on withdrawal of membership
    (Rule 39) Subject to The Cooperative Association Act, if a member withdraws from membership, the period within which the Association must redeem the shares of the former member is 36 months from the effective date of the withdrawal.”

    If you cannot find it, you should make enquiries and satisfiy yourself before buying the shares.

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