Section 48 in Uttarakhand Co-Operative Societies Act, 2003
48. Liability to be limited in respect of certain shares.
- Where any shares are purchased in a co-operative society by-(a)the State Government; or(b)an apex society from the principal State partnership fund;(c)a central society from the Subsidiary State Partnership Fund, the liability in respect of such shares shall, in the event of the co-operative society being wound up, be limited to the nominal value of the shares.
