Exemption from certain taxes, fees and duties in cooperative society i Subject to the provisions of the share or contribution of a member or past or rights of a member in cooperative society shall not be liable to attachment or sale under any order of any court in respect of any debt or liability incurred by member, and an official assignee or a receiver under any law relating every shall not be entitled to, or have any claim on, such share or the reserve fund, or the bad debt reserves, or the provident fund employees, of a multi state society invested by such in accordance with the provisions of this Act and the bye-laws shall liable to attachment under any decree or order of a court in respect of .bet or liability incurred by the society.  prohibits attachment or sale of share or contribution or interest past or deceased member in the capital of a cooperative society. hares in a multi state cooperative society are the property of the society .It is belong to the member and cannot be attached and the cooperative object to the attachment of shares in a cooperative society. Because, here is prohibition on attachment or sale of the share or contribution or member in the capital of a multi state cooperative society. Prohibition is also on attachment of the reserve fund, or the bad debt reserves, or the provident of the employees of a credit cooperative society invested by such in accordance with provisions of the Act and the bye-laws. Capital as defined in the Companies Act is of two first the preference share capital and second is equity share under this Act the capital means the only share capital which is owned member and not borrowed capital The share capital is one which dividend and the amount which cannot be withdrawn from the society be until he ceases to be a member of a multi state cooperative society is a right in the nature of a property but less than share capita soon as the share or interest is separated from capital the protection under section is lost and becomes liable for attachment. Pls pay a visit to know about members rights and liabilities in multi state cooperative society.