Section 50A(5) in The Bihar Co-operative Societies Rules, 1959
(5)The resolution for the reduction of share capital of a Co-operative Society shall take effect from the date on which it is approved by the Registrar under sub-Rule (4) above:Provided that nothing in sub-Rules (1), (2), (3), (4) and (5) shall prevent a Cooperative Society from adjusting partially or fully the value of the shares held by an individual member against any amount due from him or from making a refund of the value of shares held by him after the dues of the society against him have been fully satisfied, in accordance with its bye-laws.
