Section 65 in Mizoram Cooperative Societies Act, 2006
65. Creation of charge and set-off in respect of share or contribution or interest of members.
(1)A co-operative shall have a charge or first claim on th1 share or interest in the capital and on the deposit of its members and on any dividend, bonus or profit payable to such members in respect of any debts due from such members to the co-operative and may set-off any sum credited or payable to the members or towards payment of any such debt.(2)The members for the purpose of this chapter shall not only include present members but also the past and deceased members.
