section 47
Liability to be limited in respect of certain shares
The Kerala Co-operative Societies Act 1969Corporate1969136 sections12 chapters
Chapter VI Chapter VI
Statutory text
Where any shares in a society are purchased by— (a)the Government; or (b)the 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 society being wound up, be limited to the amount paid in respect of such shares.
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