Section 9: Liability of society
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
9. Liability of society
(1) Subject to subsection (2), a society may be registered with limited or
unlimited liability.
(2) Where the Government has contributed to the share capital of a
society, the liability of the Government shall be limited to the amount of the
shares held by it.
(3) Where a society is registered with limited liability, the liability of the
members shall be limited to—
(a) the amount unpaid on the shares held by them; and
(b) such other amount as they may undertake under its rules to
contribute to the assets of the society if it is wound up.
(4) Every society with limited liability shall have the word “Limited” or
the abbreviation “Ltd” as the last word of its name.