State Act
55
Section 55. Liability to be limited in respect of certain shares.
The Maharashtra Co-operative Societies Act, 1960
Act no. XXIV of 19611961In forceMaharashtra (State Act)
55. Liability to be limited in respect of certain shares.— Where any shares are purchased in a society by— (a) the State Government ; or (b) an Apex society from the Principal State Partnership Fund, or a Central Society from the Subsidiary State Partnership Fund, as the case may be ; the liability in respect of such share shall, in the event of the society of which the shares are purchased 2[being wound up], be limited to the amount paid in respect of such shares.