Share or interest not liable to attachment

Subject to the provisions of section 31, the share or interest of a member in the capital of a co-operative society shall not be liable to attachment or sale under any decree or order of a court of justice in respect of any debt or liability incurred by such member or past member and an official assignee or a receiver under any law relating to insolvency shall not be entitled to, or have any claims on, such share or interest. Insolvency effect- A person does not cease to be a member of the society by his adjudication as an insolvent.