section 48
Liability to be limited in respect of certain shares.
The Jammu and Kashmir Co-operative Societies Act, 1989Corporate1989184 sections
Statutory text
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.
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