LexSection 5 — Restrictions on interest of member of society with limited liability and a share capital.
The Co-operative Societies Act, 1912
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 rupeesOpen in Lexace · Ask the AI about this section