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Section 19: Effect of alteration in memorandum or articles

The Maharashtra Non-trading Corporations ActState Act of Maharashtra · Act 26 of 1959

Notwithstanding anything in the memorandum or articles of a corporation, no member thereof shall be bound by an alteration made in the memorandum or articles after the date on which he became a member, if and so far as the alteration requires him to take or subscribe for more shares than the number held by him at the date on which the alteration is made, or in any way increases his liability as at that date, to contribute to the share capital of, or otherwise to pay money to the corporation :

Provided that this section shall not apply in any case where the member agrees in writing either before or after a particular alteration is made, to be bound by the alteration.

Where this provision sits

ActThe Maharashtra Non-trading Corporations Act
Section19
Marginal noteEffect of alteration in memorandum or articles
JurisdictionState of Maharashtra
StatusIn force as published by the source

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