Section 6 in Himachal Pradesh Co-Operative Societies Act, 1968
6. Restrictions on holding of shares.
- In any Co-operative society, no member other than the State Government or any other Co-operative society shall-(a)hold more than such portion of the total share capital of the society not exceeding one-fifth thereof as may be prescribed, or(b)have or claim any interest in the shares of such society exceeding ten thousand rupees:Provided that the State Government may, by notification in Official Gazette, specify, in respect of any Co-operative society, a higher maximum than one-fifth of the share capital or a higher amount than ten thousand rupees, as the case may be.
