Section 26 in Sikkim Co-Operative Societies Act, 1955
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.
