Chapter IV INCORPORATION, DUTIES AND PRIVILEGES OF

The registration of society shall render it a body corporate by the name under which it is registered, With perpetual succession and a common seal, and With poWer to acquire, held and dispose of property, to enter into contracts, to institute and defend suits and other legal proceedings, and to do all such things as are necessary for the purpose for which it is constituted.

Every society shall have an address, registered in accordance With the rules, to Which all notices and communications may be sent, and the society shall send notice in writing to the Registrar of any change in the said address, Within thirty days thereof.

(1) Every society shall keep a register of its members, and enter therein the following particulars, viz. (3,) the name, address and occupation of each member ; (b) in the case of a Society having share capital, the share held by each member ; (c) the date on Which each person was admitted as member ; (d) the date on Which any person ceased to be a member ; (e) such other particulars as may be prescribed ; Provided that, where a society has by or under this Act, permitted a member to transfer his share or interest on death to any person, the register shall also show against the member concerned the name of the person entitled to the share or interest of the members, and the date on Which the nomination was recorded. (2) The Register shall be prima-facie evidence of the date on which any person was admitted to membership, and of the date on Which he ceased to be a member.

The State Government, by notification in the Official Gazette may, in the case of any society or class of societies, remit- (a) the stamp duty With which, under any law relating to stamp duty for the time being in force, instruments executed by or on behalf of a society or by an officer or member thereof, and relating to the business of the societymy class oi such instruments, or awards of the Registrar or his nominee or board of nominees under this Act are respectively, chargeable. (b) any fee payable by or on behalf of a society under the law relating to the registration of documents and to court fees, for the time being in force, and (c) any other tax or fee or duty ( or any portion thereof ) payable by or on behalf of a society under any law for the time being in force, Which the State Government is competent to levy.

A society shall receive deposits and loans from members and other persons, only to such extent, and under such conditions, as r‘: ay be prescribed or specified by the bye-laws of the society.

(1) A cO-operative society shall not make a loan to any person other than a member ; provided that with a general or Special sanction of the Registrar, 3, Co-operative Society may make a loan to another co-operatiVe society. (2) Notwithstanding anything contained in sub-Section (1), a co-operative society may make a loan to a depositor Within his deposit on its sec urity.

Save as is provided in this Act, the transactions of a society with persons other than members, shall be subject to such restrictions, if any, as may be prescribed.

A Society shall have a charge upon the share or interest in the capital and on the deposits, of a member or deceased member, and upon any dividend, bonus or profits, payable to any such member in respect of any debt due from Such member or his estate to the society ; and the soeiety may set off any sum credited or payable to such member in or towards payment of any such debt: Provided that, no co-operative bank shall have a charge upon any sum instead with it by a society out of the provident fund established by it under section 71, or its reserve fund ; and no co-operative bank shall be entitled to set off any such sum towards any debts due from the society.

(1) Notwithstanding anything (contained) in any other law for the time being in force, but subject to any prior claim of Govern. ‘ment in respect of land, revenue or any money recoverable as land revenue and to the provisions of sections 60 and 61 of the Code of Civil Procedure, 19089