Amendment status not verified — confirm the current text below against the official source.
Where the liability of a member of a co-operative society is limited by shares, no member other than the State Government or another co-operative society shall— (a) hold more than such portion of the share capital of the co-operative society as may, subject to a maximum of one-fifth, be prescribed; or (b) have or claim any interest in the form of dividend, profit or return with respect to the shares of the co-operative society exceeding five thousand rupees: 354 The West Bengal Co-operative Societies Act, 1983. XLV of 1983.] (Chapter VIII—Eligibility for membership and privileges, liabilities and obligations of members.—Sections 78-80.) Provided that the State Government may, by notification, raise in respect of any co-operative society or any class of co-operative societies and to such extent as may be specified in the notification the maximum limit of share capital referred to in clause (a) or the maximum limit of interest referred to in clause (b).