Model By–Laws of Cooperative Housing Society
X. INCORPORATION, DUTIES AND POWERS OF THE SOCIETY. ByLaw 74
Bye Law No 74. Charge and set off in respect of Shares and interest of a Member of the Society
The Society shall have a charge on the shares and/or interest of a Member, present or past, in the capital/property of the Society and upon any dividend, bonus or profits, payable to a Member in respect of any charges due from such Member or past Member to the Society and may set off any sum credited by or payable to a Member, in or towards there payment of such charges, as provided under Section 46 of the Act.