The Authorised Share Capital of the Society shall be Rs .......................... ...... divided into ............... shares of Rs. 50 each.
(a) A Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the Member, the number of shares issued and the value paid there on, shall be issued by the Society to every Member for the shares subscribed by him, within a period of six months of the allotment of the shares.
| (b) | The Committee of the Society shall issue a duplicate share certificate, "So Marked", on application to its members on production of following documents. | |
| 1. | if the share certificate is lost - copy of police complaint lodged, and an affidavit in that regard. | |
| 2. | if the share certificate is soiled, burnt, torn, disfigured etc. affidavit in that regard. |
Every such Share Certificate shall bear the seal of the Society and be signed and by the Chairman, the Secretary and one Member of the Committee, duly authorised by the Committee. The same shall be issued by the Secretary of the Society.
Note:The provision to issue of Share Certificates to the Members of the Society is re completely in this Model Bye-Laws. All members be issued Share Certificates as per Bye-law 10. Bye-law No. 9 of Model Bye-laws directs the issuance of Share Certificates, by the Society member, for the shares subscribed by him, containing the particulars, as stated therein period of six months of the allotment of the Shares. The same shall bear the seal of the society and be signed by the Chairman, the secretary and one member of the committee, duly authorised by the committee, on its behalf. For a specimen of Share Certificate - refer to Appendix 29.