16An individual member in a co-operative society shall hold such
number of shares as may be prescribed in the bye-laws of the society, or
to a maximum of the one-fifth of the total share capital of the society,
whichever is less:
Provided that an individual member of an Urban Co-operative Bank shall hold such number of shares as may be prescribed in the byelaws of the society, or to a maximum of the one twentieth of the total share capital of the society, whichever is less.
Provided that an individual member of an Urban Co-operative Bank shall hold such number of shares as may be prescribed in the byelaws of the society, or to a maximum of the one twentieth of the total share capital of the society, whichever is less.
16 Substituted by Act No 7 of 2016 (w.e.f. 4.4.2016).