28. RESTRICTIONS ON TRANSER OR CHARGE OF HSRAE OF INTEREST
In any society, [no member, other than the Government, or any other on holding society, or with the previous sanction of the State Government, a Zilla Parishad of shares, constituted under the Maharashtra Zilla, Parlshads and Panchayat Samitis Act, 1961, shall-]
(a) hold more than such portion of the total share capital of the society (in no case exceeding one-fifth thereof) as may be prescribed, or
(b) have or claim any interest in the shares of the society exceeding [Twenty thousand rupees] ; Provided that the State Government may, by notification in the Official Gazette, specify in respect of any class of societies a higher or lower maximum than one-fifth of the share capital or, as the case may be, a higher or lower amount than , [twenty thousand rupees.].