LawgistThe Multi-State Co-operative Societies Act
55Charge and set-off in respect of share or contribution or interest of members
A multi-State co-operative society shall have a charge on the share or contribution or interest in the capital and on the deposits of a member or past or deceased member and on any dividend, bonus or profits payable to a member or past member or the estate of a deceased member in respect of any debt due from such member or past member or the estate of such deceased member to the society and may set-off any sum credited or payable to a member or past member or the estate of deceased member in or towards payment of any such debt.
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PRIVILEGES OF MULTI-STATE CO-OPERATIVE SOCIETIES
- 55 Charge and set-off in respect of share or contribution or interest of members
- 56 Share or contribution or interest not liable to attachment
- 57 Register of Members
- 58 Admissibility of copy of entry as evidence
- 59 Exemption from compulsory registration of instruments
- 60 Deduction from salary to meet multi-State co-operative society’s claim in certain cases
- 61 Government aid to multi-State co-operative societies
