Section 24 in Rajasthan Co-operative Societies Act, 1965
24. Restriction on holding of shares.
- In any co-operative society, no member belonging to the category mentioned in clause (a) of sub-section (1) of section 19 shall-(a)hold more than such portion of the total share capital of the society not exceeding one fifth thereof, as may be prescribed, or(b)have or claim any interest in the shares of the society exceeding five thousand rupees:Provided that the Government may, by notification in the Official Gazette, specify in respect of any class of co-operative societies, a higher maximum than one fifth of the share capital or a higher amount than five thousand rupees, as the case may be.
