Legal Help in India
Online
Legal Advice
Legal advice India, Phone Consulting
Phone
Consulting
Cyber defamation - Remove offensive links from internet
Cyber
Defamation
Consumer Court India
Consumer
Court
Divorce Consulting
Family
Divorce
Criminal Law
Criminal
Law
Property Document Verification
Property
Verification
Accident & Insurance
Accident
Insurance
Banking Cheque bounce
Cheque
Bounce
Tax Consulting
Tax
Consulting
Copyright Patent Trademark
Copyright
Patent TM
Business Consulting
Business
Consulting
International Law
International
Law
Judges & senior advocates
Sr Advocates
Retd Judges
Property »Posted 3 Jan 2012             Click here for Free Legal Advice           Disclaimer

Legal questions & answers

Procedures for Issuing the Share Certificate


Procedures for Issuing the Share Certificate   I would like to know the procedures to issue a share certificate to the members of a society in thane CHS. Almost 100% members have bank loans. What are the formalities to be completed?


   Issue of Share Certificates has no relation to Bank Loans by members. In a co-op. Hou. Society Share certificates are generally of Rs.100/- each and as per bye-laws of society each member is given five certificates for Rs.500/-
Get the Certificates printed with the name, address and Registration No. of the society and ask members to pay Rs. 500/- On receiving the amount issue certificate to each member by stating members name and house/flat no. on it. At the reverse there is a column for transfer of certificate in case of sale or transfer in the name of legal heirs of the deceased member.
Printed certificates are also available in the market.
R.V.DAGLI
Advocate.

Lawyer Id: E00003106    Talk to this Lawyer                          Click here for free legal advice


   If you are in Maharashtra, each share is of Rs.50x5=Rs.250 per member.There are certain entries to be made on each certificate and in a proper format register before issuing. Verify the names from the original agreements and then enter. See the contents of Bank Loan letters if they are asking for depositing shares with the Bank, if so contact the Bank.
Lawyer Id: E00004185    Talk to this Lawyer                          Click here for free legal advice

Note: - We try our level best to avoid any kind of abusive content posted by users. Kindly report to us if you notice any,  pathlegal@gmail.com OR proceed with hide button.