Nominal, associate and sympathiser member

1. (1) Notwithstanding anything contained in section 25, a society of such class as may be prescribed may admit any person as a nominal, associate, or sympathiser member: Provided that the total number of associate and sympathiser members in a society shall not exceed ten per cent. of the total number of members thereof.
2. (2) A nominal, associate or sympathiser member shall not be entitled to any share, in any form whatsoever, in the assets or profits of the society:

Provided that subject to the provisions of sub-section

1. (7) of section 32, a nominal, associate or sympathiser member shall have such rights and privileges of a member and be subject to such liabilities of a member, as may be specified in the bye-laws of the society: Provided further that the nominal or associate or sympathiser member may be issued non-voting shares which may not confer any interest in the management of the society including right to vote, to be elected as a member of the Managing Committee or participate in the general body meetings: Provided also that in case of co-operative bank, such shares shall be issued in accordance with the instructions issued by the Reserve Bank in this regard from time to time.