Cooperative Society Share Certificate Duplication

As soon as a co-operative society is formed, a share certificate is issued to its rightful owner. With a change in ownership, the share certificate is transferred to the new owner. Members’ names, shares issued, and values are identified by a unique number.

When a share certificate is lost or stolen, what happens?

A cooperative society registration act, rules, or byelaws do not specify the process to be followed if a share certificate is lost. For the issuance of a duplicate share certificate of a cooperative society, the article explains the documents that members must submit and the procedure the committee must follow.

Step 1: Members 

• FIR should be filed
• Publicize the notice in a newspaper

Step 2: Submit documents to the society

• Letter of Request
• Copy of the FIR
• Notice advertisement on paper
• On stamp paper with a value of Rs. 300, there is an indemnity bond
• A copy of the sale deed and index
• Obtain a photocopy of the old share certificate from the member if it is available
• Proof of the member’s identity and address
• Charges for duplicate share certificates

Step 3: Become a member of the committee or society

• After the public notice is published, wait 15 days
• Member’s documents should be verified
• During the committee meeting, pass a resolution requesting a duplicate certificate to be issued

Step 4 : Conducting operations

• The member receives a new certificate with the same details as his or her original certificate
• Duplicate stamp is applied to it
• Documents received from members should be filed for future reference

Formats

1. Lodgement of a police report with the local police station
2. Duplicate share certificate request letter from member
3. A member must furnish an indemnity bond duly notarized on stamp paper or a franking of Rs 300.
4. A public notice has been issued

How do you deal with a dirty, burnt, torn, or disfigured share certificate?

Step 1: Send documents to the society

• Letter of Request
• Certificate of original ownership
• On stamp paper with a value of Rs. 300, there is an indemnity bond
• Copy of sale deed / index
• Proof of member’s ID and address
• Duplicate Share Certificate issuance charges should be checked

Step 2: Become a member of the society / committee

• Check the member’s documents
• During the committee meeting, pass a resolution requesting a duplicate certificate to be issued

Step 3: Implementation

• The member receives a new certificate with the same details as his or her original certificate
• Duplicate stamp appears on it
• Documents received from members should be filed for future reference

Formats

1. Letter requesting duplicate share certificates – soiled, burned, and torn
2. A notarized indemnity bond of Rs 300 must be signed by a member

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