Section 31(1) in The Tamil Nadu Co-Operative Societies Act, 1983
(1)Subject to the provisions of sub-section (2), the liability of a past member or of the estate of a deceased member of a registered society for the debts of the society as they existed,-(a)in the case of a past member, on the date on which he ceased to be a member; and(b)in the case of a deceased member, on the date of his death; shall continue for a period of two years from such date:Provided that the liability of the Government or of a financing bank which have or has taken shares in a registered society shall cease on the date on which the Government or the financing bank cease or ceases to be a member.
