Question

Limited Liability means that the liability of the members are :

• A. Limited to their paid up capital
• B. Limited to the debts of society
• C. Limited to their subscribed capital
• D. None of these

Answer 1

Answer:

A. Limited to their paid up capital

Liability of society:

• Liability of a society of which a member is a registered society shall be limited.
• Liability of a society of which the object is the creation of funds to be lend to its members, and of which the majority of the members are agriculturists, and of which no member is a registered society, shall be unlimited.