Registration with limited or unlimited liability

(1) A co-operative society may be registered with or without limited liability: Provided that - (i) the liability of a co-operative society of which any member is a co-operative society shall be limited; and (ii) no co-operative society shall be registered as a society with unlimited liability if, amongst its objects, it also includes any object other than the advancement of loans to its members. (2) The word `limited' or its equivalent in any Indian language shall be the last word in the name of co-operative society registered or deemed to be registered under this Act with limited liability.