Section 16 in Multi-State Co-Operative Societies (Registration, Membership, Direction & Management, Settlement of Disputes, Appeal & Revision) Rules, 1985
16. Restriction On Holding of Shares.
- No member referred to in Clauses (a) and (b) of sub-section (1) of Section 19-shall hold more than one-fifth of the share capital of the Multi-State Co-operative Society or have or claim any interest in the shares of the Multi-State Co-operative Society exceeding ten thousand rupees, whichever is less.
