State Act
48
Section 48. Liability to be limited in respect of certain shares
THE UTTAR PRADESH CO-OPERATIVE SOCIETIES ACT, 1965
In forceUttar Pradesh (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 State Government; or (b) an apex society from the Principal State Partnership Fund; or (c) a central society from the Subsidiary State Partnership Fund, the liability in respect of such shares shall, in the event of the co-operative society being wound up, be limited to the nominal value of the shares.