Section 4 - Societies which may be registered - Co-operative Societies Act, 1912

Societies which may be registered. 4. 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 opera tions 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 crea tion of funds to be lent to its members, and of which the majori ty of the members are agriculturists, and of which no member is a registered society, shall be unlimited.