GCSA 56 — Liability to be limited in respect of certain shares.

Gujarat Co-operative Societies Act, 1961

Statutory text

Where any shares are purchased in a society by—

(a) the State Government, or (b) an Apex society form the Principal State Partnership Fund, or a Central society form the Subsidiary State Partnership Fund, as the case may be, then in the event of the winding up of such society the liability in respect of such shares shall be limited to the amount paid in respect of such shares.

Back to GCSA