12. Member not to exercise rights till due payment made.—No member of a registered society
shall exercise the rights of a member unless or until he has made such payment to the society in respect
of membership or acquired such interest in the society, as may be prescribed by the rules or by-laws.
13. Votes of members.—(1) Where the liability of the members of a registered society is not limited
by shares, each member shall, notwithstanding the amount of his interest in the capital, have one vote
only as a member in the affairs of the society.
(2) Where the liability of the members of a registered society is limited by shares, each member shall
have as many votes as may be prescribed by the by-laws.
(3) A registered society which has invested any part of its funds in the shares of any other registered
society may appoint as its proxy, for the purpose of voting in the affairs of such other registered society,
any one of its members.
14. Restrictions on transfer of share or interest.—(1) The transfer or charge of the share or interest
of a member in the capital of a registered society shall be subject to such conditions as to maximum
holding as may be prescribed by this Act or by the rules.
(2) In case of a society registered with unlimited liability a member shall not transfer any share held
by him or his interest in the capital of the society or any part thereof unless—
(a) he has held such share or interest for not less than one year; and
(b) the transfer or charge is made to the society or to a member of the society.