State Act
46
Section 46. Liability to be limited in respect of certain shares.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
46. Liability to be limited in respect of certain shares.- Where any shares are purchased in a co-operative society by,— (a) the State Government; or (b) an apex society or a central society from the ‘Principal State Partnership Fund’ or the ‘Subsidiary State 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.