Section 55 in The Maharashtra Co-Operative Societies Act, 1960
55. Liability to be limited in respect of certain shares.
- Where any shares are purchased in a society by-(a)the State Government; or(b)an Apex society from the Principal State Partnership Fund, or a Central society from the Subsidiary State Partnership Fund, as the case may be; the liability in respect of such shares shall, in the event of the society of which the shares are purchased [being wound up] [These words were substituted for the words 'is wound up', by Maharashtra 33 of 1963, Section 11.], be limited to the amount paid in respect of such shares.
