N.Y. Cooperative Corporations Law § 42: Forfeiture of membership

§ 42. Forfeiture of membership. In accordance with provisions therefor

in the by-laws, any person shall forfeit his membership upon proof that

he has ceased to be engaged in the occupation or occupations for the

servicing of which the corporation was formed, or has ceased to have the

qualifications requisite for membership; and shall upon such notice and

terms as may be prescribed in the by-laws, surrender his membership

certificate or his shares of stock upon payment of the par or otherwise

designated value thereof and of any accrued dividends thereon, as may

appear in the accounting at the end of the current fiscal year.