Liability of past member and of estate of deceased member for debts of society
47.—(1) The liability of a past member for the debts of a society, within the limitations of section 46, as they existed on the date on which he ceased to be a member shall not continue for a period of more than 2 years after that date.
[Act 3 of 2018 wef 10/04/2018]
(2) The estate of a deceased member, who is not a past member to whom subsection (1) applies, shall not be liable for debts of the society as they existed on the date of his death for a period of more than 2 years after the date of his death.