Section 37: Termination of membership

37. Termination of membership (1) A person shall cease to be a member of a society where— (a) he withdraws from the society as member in accordance with this Act and the rules; (b) he transfers all his shares; (c) in the case of an individual, he— (i) dies; (ii) becomes insane; or (iii) becomes bankrupt; (d) in the case of a body corporate, it— (i) becomes insolvent; or (ii) is dissolved following liquidation; or (e) he is expelled from the society. (2) A member may withdraw from a society subject to such notice as the rules may provide, but the notice shall not exceed— (a) one year in the case of a primary society; and (b) 2 years in the case of a secondary or the tertiary society. [Issue 9] C49 – 18 Revised Laws of Mauritius (3) A member shall not transfer his share or interest in a society unless— (a) he has held the share for— (i) not less than one year; or (ii) such longer period, not exceeding 3 years, as may be specified in the rules; and (b) the transfer is effected to another member or a person who has applied for membership and such membership is approved by the Board. (4) A society may provide, in its rules, for the termination of membership of inactive or dormant members.