Section 11(4) in Kerala Cooperative Societies Act, 1969
(4)An amendment of the bye-laws of a society changing the form or extent of its liability shall not be registered or take effect until either-(a)the assent thereto of all members and creditors has been given or deemed to have been given; or(b)all claims of members and creditors who exercise the option referred to in subsection (2) within the period specified therein have been me in full.
