Where the liability of the members of a society is limited by shares, no member other than a registered society shall— (a) hold more than such portion of the share capital of the society, subject to a maximum of onefifth, as may be prescribed by the rules; or (b) have or claim any interest in the shares of the society exceeding one thousand rupees
Chapter — Sections
Section 5
Restrictions on interest of member of society with limited liability and a share capital
Printed from Law on Tips • The Co-operative Societies Act, 1912