Section 56 in The Gujarat Co-Operative Societies Act, 1961
56. 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, then in the event of the winding up of such society the liability in respect of such shares shall be limited to the amount paid in respect of such shares.
