A registered co-operative society shall have a charge upon the share or interest in the capital and on the deposits of a member or a past member or deceased member and upon any dividend, bonus or surplus 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 estate of such deceased member to the cooperative society, and may set off any sum credited or payable to a member or past member or estate of a deceased member in or towards payment of any such debt.
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More sections of this act
Section 1 · Short title,extent and commencementSection 2 · DefinitionsSection 3 · The Registrar.Section 4 · Co-operative Societies which may be registered.Section 5 · Age, qualification of a member.Section 6 · Conditions of registration.Section 7 · Restrictions on acquisition of Share in a Cooperative Society.Section 8 · Power of Registrar to decide certain questions.India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.