Section 16(4) in The Tripura Co-operative Societies Act, 1974
(4)An amendment of the bye-laws of a society, changing the form or extent of its liability, shall not be registered or take effect until, either-(a)all members and creditors have assented, or deemed to have assented thereto as aforesaid; or(b)all claims of members and creditors who exercise the option, given by sub-section (2), within the period specified therein, have been met in full or otherwise satisfied.
