Co-operative Societies Act 1979 s 46

s 46 Liability of member limited by shares or by guarantee

46.—(1) Despite the provisions of any by-laws, the liability of a member, present or past, of a society extends to the nominal value of any shares held or subscribed for by the member. (2) Where in the by-laws of a society the amount of the liability of a member is expressed to be greater than the nominal value of any shares held or subscribed for by the member, then the liability of the member extends to that greater amount.

Read this section in the full act → · Open PART 4 →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.

What to look at next

Co-operative Societies Act 1979, full textChapter navigation and full text, so you can read this section in contextSingapore legislation Singapore Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and year PART 4 — RIGHTS AND LIABILITIES OF MEMBERS — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections