Amendment status not verified — confirm the current text below against the official source.
The liability of a past member or the estate of a deceased member of a co-operative society for debts of the co-operative society as they existed on the date of ceasing to be a member of the co-operative society or on the date of death of the member, as the case may be, shall continue for a period of two years from that date: Provided that where a co-operative society is directed to be wound up under section 99 within the period of two years as aforesaid, such liability shall continue until the proceedings for winding up of the co- operative society are completed by the liquidator.