Restriction on transferability of shares.
Section 72
SEC. 72. Restriction on transferability of shares.—Subject to the provisions of section seventy, a member shall not transfer any share held by him or his interest in the co-operative or any part thereof unless:He has held such share or interest for not less than one year; The transfer is made to the co-operative or to a member of the co-operative or to a person who falls within the field of membership of the cooperative and whose membership is acceptable to the co-operative; and The board of directors has approved such transfer.