Section 26 in The Assam Co-operative Societies Act, 1949
26. Liability of members on winding up of society.
- The members of a registered society shall, in the winding up of the society, be jointly and severally liable to contribute towards any deficiency in the assets of the society :(a)in the case of a society with unlimited liability-without limit; and(b)in the case of a society with limited liability-subject to such limitation of amount as may be provided in the bye-laws.
