State Act
22
Section 22. Restrictions on holding shares.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
2[ 1[22. Restrictions on holding shares.-In any cooperative society, no member other than the Government, or any other cooperative society with the previous sanction of the state Government, the State Warehousing Corporation or Zilla Panchayath constituted under the Karnataka Gram Swaraj and Panchayat Raj Act, 1993 (Karnataka Act No 14 of 1993) or any statutory or non-statutory board, committee or corporation shall hold more than such portion of the total share capital of the society not exceeding five percent thereof as may be prescribed.]1]2