section 8
Registration with limited or unlimited liability.
The Jammu and Kashmir Co-operative Societies Act, 1989Corporate1989184 sections
Statutory text
- (1) A Co-operative Society may subject to the provisions of sub-section (2) be registered with or without limited liability.
- (2) Unless the Government by general or special order otherwise directs :—
- (a) a Co-operative Society shall be registered with limited liability if any of its members is another Co-operative Society ;
- (b) whether the liability of the members of a Co-operative Society is unlimited or limited by shares, the liability of the Government which has taken shares in Co-operative Society shall be limited to the share capital subscribed by the Government.
- (3) The word ‘limited’ shall be the last word in the name of every Society with limited liability registered under this Act.
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