Section 47 in Kerala Cooperative Societies Act, 1969
47. Liability to be limited in respect of certain shares.
- Where any shares in a society are purchased by"(a)the Government; or(b)the apex society or a central society from the Principal State Partnership Fund or the Subsidiary State Partnership Fund, as the case may be, the liability in respect of such shares shall, in the event of the society being wound up, be limited to the amount paid in respect of such shares.
