8 Membership.
(1) A Nidhi shall not admit a body corporate or trust asa member.
(2) Except as otherwise permitted under these rules, every Nidhi shallensure that its membership is not reduced to less than two hundredmembers at any time.
(3) A minor shall not be admitted as a member of Nidhi:
Provided that deposits may be accepted in the name of a minor, if they aremade by the natural or legal guardian who is a member of Nidhi.
1[“(4) A member shall not transfer more than fifty percent of his shareholding (as on the date of availing of loan or making of deposit) during the subsistence of such loan or deposit, as the case may be.
Provided that the member shall retain the minimum number of shares required under subrule (3) of rule 7 at all times”.]
Amendment
1. Inserted by Nidhi (Amendment) Rules, 2022 dated 19th April, 2022