Section 12(4) in Rajasthan Co-operative Societies Act, 1965
(4)An amendment of the bye-laws of a co-operative society changing the form or extent of its liability shall not be registered or take effect until, either,-(a)the assent thereto of all the members and creditors has been obtained; or(b)all claims of the members and creditors who exercise the option referred to in sub-section (2) within the period specified therein have been met in full.
