Regarding Section 26 of KCS Act, what happens to a member’s liability after transfer or repayment of shares, vis‑à‑vis past obligations?
AThe member is completely absolved of all past obligations immediately upon transfer or repayment.
BThe member's liability for past obligations ceases to exist entirely after the transfer or repayment of shares.
CPast obligations are automatically transferred to the new shareholder or are written off by the cooperative.
DLiability for past obligations may continue for a limited period and to a limited extent as provided by the Act