Section 33: Charge and set off in respect of share of contribution or interest of members
The Punjab Co-Operative Societies Act, 1961Union territory Act of Chandigarh · Act 25 of 1961
A co-operative society shall have a charge upon the share of contribution or interest in the capital and on the deposits of a member or past member or deceased mamber and upon any dividend, bonus or profits payable to a member or past member or the estate of a deceased member in respect of any debt due from such member or past member or the estate of such deceased member to the society, and may set off any sum credited or payable to a member or past member or the estate of deceased member in or towards payment of any such debt.
THE PUNJAB COOPERATIVE SOCIETIES ACT, 1961 38 8TH FINAL PRINT AS ON 05.10.2006 SECTION - 34