Amendment status not verified — confirm the current text below against the official source.
The members of a Co-operative society shall, upon the dissolution of the Co-operative society, be jointly and severally liable to contribute towards any deficiency in the assets of the Co-operative society,— if the Co-operative society is a Co-operative society with unlimited fialikikty, without limit; and 46 THE KOLKATA GAZETTE, EXTRAORDINARY, MAY 25, 2010 [PART III The West Bengal Co-operative Societies Act, 2006. (Chapter VI. Member of Co-operative societies and their duties, rights, accountability, Privileges and liabilities.—Sections 69, 70.) Liability of past member or the state of deceased member. Disposal of deceased member's share or interest. (b) if the Co-operative society is a Co-operative society with limited liability, subject to such limitation as may be provided in the by-laws: Provided that where any shares of a Co-operative society are purchased by the State Government or by any other Co-operative society, the liability in respect of such shares shall, upon the dissolution of the Co-operative society, be limited to the amount paid in respect of such shares.