Co-operative Societies Act, 1912 Section 4 - Bare Act

Act Info:

Subject to the provisions hereinafter contained, a society whichhas its object the promotion of the economic interests of itsmembers inaccordance with co-operative principles, or a society established with theobject of facilitating the operation of such a society, may be registered underthis Act with or without limited liability :

Provided that unless the ¹ [State Government] bygeneral or special order otherwise directs--

(1) the liability of asociety of which a member is a registered societyshall belimited ;

(2) the liability of asociety of which the object is the creation of funds to be lent to itsmembers, andof which the majority of the members are agriculturists,and of which no member is a registered society,shall beunlimited.

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1. Substituted by A.O. 1950, for "ProvincialGovernment".