The Co-operative Societies Act, 1912
Section 5. 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 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
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Cases citing this section
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