THE UTTAR PRADESH CO-OPERATIVE SOCIETIES ACT, 1965
Section 48. Liability to be limited in respect of certain shares
Where any shares are purchased in a co-operative society by-
(a) the State Government; or
(b) an apex society from the Principal State Partnership Fund; or
(c) a central society from the Subsidiary State Partnership Fund, the liability in respect of such shares shall, in the event of the co-operative society being wound up, be limited to the nominal value of the shares.
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