Co-operative Societies Act 1979 · 2020 Revised Edition · Part 4 · Rights and Liabilities of Members
47. Liability of past member and of estate of deceased member for debts of society
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The liability of a past member for the debts of a society, within the limitations of section 46, as they existed on the date on which the member ceased to be a member does not continue for a period of more than 2 years after that date.
member
“member” includes an individual person or institution qualifying for membership in a co-operative society, who or which join in the application for the registration of a society, and an individual person or institution admitted to membership after registration in accordance with this Act, the Rules and the by-laws;
The estate of a deceased member, who is not a past member to whom subsection (1) applies, is not liable for debts of the society as they existed on the date of the member’s death for a period of more than 2 years after the date of the member’s death.
society
“society” means a co-operative society registered under this Act and includes a primary society, a secondary society and an apex organisation;