Section 53(1) in The Assam Co-operative Societies Rules, 1953
(1)Fixation of maximum liability of a member of credit society with unlimited liability. - Every credit society of unlimited liability shall from time to time, fix in the annual general meeting of the general assembly the maximum liability a member may incur. The maximum limit so fixed shall be subject to the sanction of the Registrar or some person authorised by him who may, if he thinks fit, reduce it or impose such conditions as he may think necessary. No loan shall be granted to an individual member of a society which shall bring his total debts to the society exceeding the maximum amount so fixed.
