Section 50 in The Maharashtra Co-Operative Societies Act, 1960
50. Direct partnership of State Government in societies.
- The State Government may subscribe directly to the share capital of a society with limited liability, upon such terms and conditions as may be agreed upon:[Provided that, in the case of the co-operative credit structure entity, the State Government shall not hold more than 25% of the total share capital and the entity shall have option to further reduce the share capital contributed by the Government.] [This proviso was added by Maharashtra Act 11 of 2008, Section 9, (w.e.f. 29.10.2007).]
