law: Multi-State Cooperative Societies Act, 1984 
  53. Charge and set
  
  off, in respect of share or contribution or interest of member.- 
  A multi-State
  
  cooperative society shall have a charge on the share or contribution or
  
  interest in the capital and on the deposits of a member or past or deceased
  
  member and on any dividend, bonus or profits payable to a member or past member
  
  or the estate of a deceased member in respect of any debt due from such member
  
  or past member of the estate of such deceased member to the society and may set
  
  off any sum credited or payable to a member or past member or the estate of
  
  deceased member in or towards payment of any such debt.