The share or interest of a member in the capital of a society, or in the loan-stock issued by a housing society, or in the funds raised by a society from its members by way of savings deposit, shall not be liable to attachment or sale under any decree or order of a Court for or in respect of any debt or liability incurred by the member ; and accordingly, neither the Official Assignee under the Presidency-towns Insolvency Act, 1909 (III of 1909), nor a Receiver under the Provincial Insolvency Act, 1920 (V of 1920), nor any such person or authority under any corresponding law for the time being in force, shall be entitled to or have any claim on, such share or interest.
Section 31: Share or interest not liable to attachment
The Maharashtra Co-operative Societies Act, 1960State Act of Maharashtra · Act 24 of 1961
Where this provision sits
| Act | The Maharashtra Co-operative Societies Act, 1960 |
|---|---|
| Section | 31 |
| Marginal note | Share or interest not liable to attachment |
| Jurisdiction | State of Maharashtra |
| Status | In force as published by the source |
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