Section 75 in West Bengal Co-operative Societies Act, 2006
75. Restrictions on holding of shares.
- Where the liability of a member of a Co-operative society is limited by shares, no member other than State Government shall hold more than such portion of the share capital of the Co-operative society as may, subject to the maximum of one-fifth be prescribed in the by-laws of the Co-operative society and shall have any claim in the form of dividend or profit or return in respect of the shares of the Co-operative society in excess of the limit prescribed in the by-laws:Provided that the State Government may subscribe to the share capital of a Co-operative society up to a maximum of one-fourth of the paid up share capital.
