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Co-Operative Societies Act 2008

26. Liability of past and present members

1.      Subject to the Act, the liability of a current member of a society is limited to the unpaid amount of his subscription for shares.

2.      The liability of a past member or the estate of a deceased member for debts of a society as they existed on the date on which such member ceased to be a member or died shall continue for a period of 2 years after the cessation of his membership or death.

Cooperative Societies Act, 2008 Back

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