Co-operative Societies Act : Shares or interest not liable to attachment Indian Bare Acts :

Co-operative Societies Act,1912

Act No : 2

Section : Shares or interest not liable to attachment

21. Shares or interest not liable to attachment. Subject to the provisions of section 20, the share or interest of a member in the capital of a registered society shall not be liable to attachment or sale under any decree or order of a Court of Justice in respect of any debt or liability incurred by such member, and neither the Official Assignee under the Presidency-towns Insolvency Act, 1909 (3 of 1909), nor a Receiver under the Provincial Insolvency Act, 1907 1*(3 of 1907), shall be entitled to or have any claim on such share or interest.