Person who may become member.

Person who may become member. (1) Subject to the provisions of section 25, no person shall be admitted as member of a society except the following, that is to say— (a) an individual, who is competent to contract under the Indian Contract Act, 1872; (b) a firm, company, or any other body corporate constituted under any law for the time being in force or a society registered, under the societies Registration Act, 1860, (c) a society registered, or deemed to be registered, under this Act; (d) the State Government; (e) a local authority; (f) a public trust registered or deemed to have been registered under Bombay Public Trusts Act, 1950; (g) a group of the individuals eligible under clause (a), whether incorporated or not and whether established or not by or under any law: Provided that, the provisions of clause (a) shall not apply to an individual seeking admission to a society exclusively formed for the benefit of students of a school or college: Provided further that subject to such terms and conditions as may be laid down by general or special order a firm or a company or other body corporate constituted under any law for the time being in force may be admitted as member only of such society as may be prescribe (2) Every person seeking admission as a member of a society, if duly qualified for membership of such society under the provisions of this Act, the rules and the bye-laws of the society, may make an application to the society for membership. The society shall take decision on the application and shall communicate the decision within a period of three months from the dale of the receipt of the application. (3) Notwithstanding anything contained in sub-section (1), the State Government, may, having regard to the fact that the interest of any person or class of persons engaged in or carrying on any profession, business or employment conflicts or is likely to conflict with the objects of any society or class of societies by general or special order published in the Official Gazette, declare that person or such class of persons shall be disqualified from being admitted, or for continuing, as member or members or shall be eligible for membership only to a limited extent, of any society or class of societies, so long as such person or persons are engaged in or carry on that profession, business, or employment as the case may be. (4) All the depositors having deposits of Rs. 10,000 or above for a minimum period of one -year and the borrowers shall be compulsorily made members in the Primary Agricultural Credit Co-operative Societies: Provided that the depositors having deposits less than Rs. 10,000 shall be made nominal members. (5) The State Government may by notification in the Official Gazette, alter the limit of Rs. 10,000 specified by subsection (4) and also specify such amount of deposit as it deems necessary for a class of society and different amount may be