Amendment status not verified — confirm the current text below against the official source.
Share contribution or interest not liable to attachment:- Subject to the provisions of section 55, the share or contribution or interest of a member or past member or deceased member in the capital of a co-operative society shall not be liable to attachment or sale under any decree or order of any court in respect of any debt or liability incurred by such member and a receiver under the Provincial Insolvency Act, 1920, shall not be entitled to or have any claim on such share or contribution or interest.