Section 4
Societies which may be registered. Repealed
The Co-operative Societies Act, 1912
About this Act
An Act to amend the law relating to Co-operative Societies.
Subject to the provisions hereinafter contained, a society
which has as its object the promotion of the economic interests of its members in accordance with
co-operative principles, or a society established with the object of facilitating the operations of such a
Society, may be registered under this Act with or without limited liability:
Provided that unless the State Government by general or special order otherwise directs—
(1) the liability of a society of which a member is a registered society shall be limited;
(2) the liability of a society of which the object is the creation of funds to be lent to its members, and of which the majority of the members are agriculturists, and of which no member is a registered society, shall be unlimited.
Provided that unless the State Government by general or special order otherwise directs—
(1) the liability of a society of which a member is a registered society shall be limited;
(2) the liability of a society of which the object is the creation of funds to be lent to its members, and of which the majority of the members are agriculturists, and of which no member is a registered society, shall be unlimited.