33.Liability of past member and estate of deceased member
(1)Subject to the provisions of sub-section (2), the liability of a past member, or of the estate of a deceased member, of a society for the debts of the society as they stood,—
(a)in the case of a past member, on the date on which he ceased to be a member, and
(b)in the case of a deceased member, on the date of his death, shall continue for a period of two years from such date.
(2)Where a society is ordered to be wound up under any provision of this Act, the liability of a past member or of the estate of a deceased member, who ceased to be a member or died, within two years immediately preceding the date of the order of winding up, shall continue until the entire liquidation proceedings are completed ; but such liability shall extend only to the debts of the society as they stood on the date of his ceasing to be a member or death, as the case may be.
