Section 22 in The U.P. Co-operative Societies Act, 1965
22. Restriction on holding of shares.
- A member who is an individual shall-(a)neither hold more than such portion of the total share capital of the society, nor exceeding one-fifth thereof, as may be prescribed,(b)nor have or claim any interest in the share of the society exceeding [such amount as may be prescribed] [Substituted by U.P. Act No. 1 of 1972, vide Section 3 (w.e.f. 16-1-1972) for 'five thousand rupees'.] in nominal value.
