Section 26(6) in The Orissa Self-Help Co-operatives Act, 2001
(6)Where a Co-operative is ordered to be dissolved, the liability of a past member, who ceased to be a member, or of the estate of a deceased member, who died, within two Co-operative business years immediately precedings the date of order of dissolution, shall Continue until completion of the liquidation proceedings, but such liability shall be limited only to the debts of the Co-operative as they existed on the date of cessation of membership or death, as the case may be.Explanation I. - A "Co-operative with limited liability" means a Cooperative in which the liability of its members for the debts of the Co-operative is limited by its articles of association, to such form and such extent as they may undertake to contribute to any deficit in the assets of the Co-operative, in the event of its being wound up.Explanation II. - A "Co-operative with unlimited liability" means a Cooperative in which its members are jointly and severally liable for the debts of the Co-operative and to contribute to any deficit in the assets of the Cooperative, in the event of its being wound up.
