Co-operative Societies Act, 1912 Section 5 - Bare Act |
| State | Central Government |
| Year | 1912 |
| Section Title | Restrictions on Interest of Member of Society with Limited Liability and a Share Capital |
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 one-fifth, as may be prescribed by the rules; or
(b) have or claim any interest in the shares of the society exceeding one thousand rupees.