The Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)
Section 7. Restrictions on acquisition of Share in a Cooperative Society.
(1) No member of a registered co-operative society shall hold more than such portion of the Capital of the co-operative society as may be prescribed by the rules, or the bye-laws of the co-operative society.
(2) No member shall be allowed to acquire an additional share until he has paid in full the value of the whole or that portion of his shareholding which he is required to pay in accordance with the bye-laws of the co-operative society.
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