Section 9(1) in Sikkim Co-Operative Societies Act, 1955
(1)Subject to the proviso, to section 4 and to any rules made in this behalf, a registered society may, with the previous sanction of the Registrar, change its liability from limited to unlimited or from unlimited to limitedProvided that -(i)The society shall give notice in writing of its intention to change its liability to all its members and creditors.(ii)Any member or creditor shall, notwithstanding an bye-law or contract to the contrary; have the option of withdrawing his shares, deposits or loans; as the case may be, within three :months of the service of such notice on him and the change shall not take effect until all such claims have been satisfied; and(iii)Any member or creditor, who does not exercise his option within the period aforesaid shall be deemed to have assented to the change.
