Section 26 in Sikkim Co-Operative Societies Act, 1978
26. Restrictions on holding of shares.
- In any society, no member other than the Government or any other society shall hold or have claim to more than such portion of the total share capital of the society which exceed one-fifth thereof or Rs. 5,000/- which ever is less:[Provided that in respect of certain class of societies as the Government may, by notification in the Official Gazette specify a member other than the Government or any other society, may hold share exceeding the prescribed limit.] [Substituted by Act No. 7 of 1992, dated 28.9.1992.]
