A registered society shall have charge upon the share or interest in the capital and on the deposits of a member or past or deceased member and upon any dividend, bonus or profits payable to a member or a 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 deceased member or the estate of a deceased member in or towards payment of any such debt.
Section 41: Charge and set off in respect of shares or interest of members
The Puducherry Co-Operative Societies Act, 1972Union territory Act of Puducherry · Act 7 of 1973
Where this provision sits
| Act | The Puducherry Co-Operative Societies Act, 1972 |
|---|---|
| Section | 41 |
| Marginal note | Charge and set off in respect of shares or interest of members |
| Jurisdiction | Union territory of Puducherry |
| Status | In force as published by the source |
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