Section 7 in The Meghalaya Co-operative Societies Act
7. Restrictions on acquisition of shares in a society.
(1)No member of a registered society shall hold more than such portion of the share capital of the society as may be prescribed by the rules, or he bye-laws of the society.(2)No member shall be allowed to acquire an additional share until he has paid in full the value of the whole or that portion of his share holding which he is required to pay in accordance with the bye-laws of his society.
