Section 55 in The Manipur Co-operative Societies Act, 1976
55. Liability to be limited in respect of certain shares.
- Where any shares are purchased in a society by-(a)the State Government, or(b)an Apex Society;from the Principal State or a Central Society from the Subsidiary State Partnership Fund, as the case may be, the liability in respect of such shares shall, in the event of the society of which the shares are purchased is wound up, be limited to the amount paid in respect of such shares.
