(1) No member of a registered co-operative society shall hold more than such portion of the Capital of the co-operative society as may be prescribed by the rules, or the bye-laws of the co-operative society.
(2) No member shall be allowed to acquire an additional share until he has paid in full the value of the whole or that portion of his shareholding which he is required to pay in accordance with the bye-laws of the co-operative society.
(2) No member shall be allowed to acquire an additional share until he has paid in full the value of the whole or that portion of his shareholding which he is required to pay in accordance with the bye-laws of the co-operative society.
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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 8 · Power of Registrar to decide certain questions.Section 9 · Liability.India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.