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        Trust and Society

        Section 20 - Charge and set-off in respect of shares or interest of member

        Co-operative Societies Act, 1912
        Chapter V
        Privileges of Registered Societies

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        Charge and set-off rights allow a registered society to apply a member's shares, deposits or dividends to satisfy debts. A registered society has a charge over a member's or past member's share or interest and deposits, and over any dividend, bonus or profit payable to that member or past member, to secure any debt due to the society, and may set off any sums credited or payable to that member or past member in or towards payment of such debt.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Charge and set-off rights allow a registered society to apply a member's shares, deposits or dividends to satisfy debts.

                                A registered society has a charge over a member's or past member's share or interest and deposits, and over any dividend, bonus or profit payable to that member or past member, to secure any debt due to the society, and may set off any sums credited or payable to that member or past member in or towards payment of such debt.


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