Section 7 in Sikkim Co-Operative Societies Act, 1955
7. Registrations 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 the 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 or his share-holding which he is required to pay in accordance with the bye-laws of his society.
