Section 5 - Restrictions on interest of member of society with limited li­ability and a share capital - Co-operative Societies Act, 1912

Restrictions on interest of member of society with limited li ability and a share capital. 5. 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.