Nominal or associate or joint member.

(1) Notwithstanding anything contained in section 22, a co-operative society may admit any person as a nominal or associate or joint member in accordance with its bye-laws and subject to the rules. (2) A nominal or associate member shall not be entitled to any share in any form whatsoever, in the assets or profits of the co-operative society. (3) Save as provided in this section, a nominal or associate or joint member shall have such privileges and rights of a member and be subject to such liabilities of a member as may be prescribed in rules and specified in the bye-laws of the co-operative society.