Section 29 in The Gujarat Co-Operative Societies Act, 1961
29. Restrictions of holding on shares.
- In any society, no member other than the State Government or a society, shall hold more than such portion not exceeding one fifth of the total share capital of the society as may be prescribed:Provided that the State Government may, by notification in the Official Gazette, specify in respect of any class of societies a higher maximum than one-fifth of the share capital.
