46. CHARGE AND SET-OFF N RESPECT OF SHARE OR INTEREST OF MEMBER
A society shall have a charge upon the share or interest in the capital and on the deposits, of a member or past member or deceased member, and upon any set-off in dividend, bonus or profits payable to any such member, in respect of any debt due respect of from such member or his estate to the society; and the society may set-off any sum credited or payable to such member in or towards payment of any such debt Provided that, no co-operative bank shall have a charge upon any sum invested with it by a society out of the provident fund established by it under section 71, or its reserve fund; and no co-operative bank shall be entitled to set-off any such sum towards any debts due from the society.