State Act
48
Section 48. Liability to be limited in respect of certain shares.
THE JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989
In forceJammu and Kashmir (State Act)
48. Liability to be limited in respect of certain shares. Where any shares are purchased in a co-operative society by (a) the Government ; or (b) an apex society or a central society from the Principal Government Partnership Fund or the Subsidiary Government Partnership Fund as the case may be ; the liability in respect of such shares shall, in the event of the co-operative society being wound up, be limited to the amount paid in respect of such shares.