(a) In the case of a society with limited liability, the value of a share shall be the amount arrived at by a valuation based on the financial position of the society as shown in the last audited balance sheet; provided that it shall not exceed the actual amount received by the society in respect of such share.
(b) In the case of a society was unlimited liability, the value of a share shall be the actual amount received by the society in respect of such share.
Section 15 • The Arunachal Pradesh Co-operative Societies Rules, 1984
15. Change of liability.
the-arunachal-pradesh-co-operative-societies-rules-1984-1984-sec-15.json
•
Section 15
{
"act_title": "The Arunachal Pradesh Co-operative Societies Rules, 1984",
"act_slug": "the-arunachal-pradesh-co-operative-societies-rules-1984-1984",
"section_label": "Section",
"section": {
"number": "15",
"title": "15. Change of liability.",
"chapter": null,
"content": "(a) In the case of a society with limited liability, the value of a share shall be the amount arrived at by a valuation based on the financial position of the society as shown in the last audited balance sheet; provided that it shall not exceed the actual amount received by the society in respect of such share.\n(b) In the case of a society was unlimited liability, the value of a share shall be the actual amount received by the society in respect of such share.",
"footnote": "",
"is_definition": false,
"sort_order": 14
},
"prev_section": "14",
"next_section": "16"
}