Section 11(4) in The U.P. Co-operative Societies Act, 1965
(4)An amendment of the bye-laws of a co-operative society changing the form or extent of its liability shall not be registered until, either-(a)it has been assented to or deemed to have been assented to by all the members and creditors, or(b)all claims of members and creditors who exercise the option referred to in sub-section (2) within the period specified therein have been met in full.
