Co-operative societies to be bodies corporate

The registration of co-operative society shall render it a body corporate by the name under which it is registered having perpetual succession and a common seal, and with power to hold property, enter into contract, institute and defend suits and other legal proceedings and to do all things necessary for the purposes for which it is constituted. A member of the committee shall cease to hold his office as such if he:

(a) continues to be in default in respect of any sum due from him to the co-operative society for such period as may be laid down in the bye-laws:

(b) Ceases to be a member of the society;

(c) is declared insolvent;

(d) becomes of unsound mind;

(e) is convicted of an offence involving dishonesty or moral turpitude; and

(f) becomes subject to any of disqualification which would have prevented him from seeking election, had he incurred that disqualification before election.