Persons who may become member

(1) Subject to the provisions of section 24, no person shall be admitted as a member of a society except the following that is to say-- (a) an individual, who is competent to contract under the Indian Contract Act, 1972 ; (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 Government ; (e) a local authority ; (f) a public trust registerepd under any law for the time being in force for the registration of such trusts ; (g) The ordinary residence of a person shall be within the area of operation of the society of which he wants to be a member.’’ (h) Self- Help Group – The ordinary residence of a person shall be within the area of operation of the society of which he wants to be a member. Provided that this restrictions will not be applicable to a Co-operative credit structure society and a Co-operative credit structure society shall be entitled to admit as member even a person whose ordinary residence is outside its area of operation. 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 the Government by general or special order, a firm or a company may be admitted as a member only of a society which is a federal of urban or which conducts or intends to conduct as industrial undertakings ; Provided also that any firm or company, which is immediately before the commencement of this Act a member of a society deemed to be registered under this Act, shall have, subject to the other provisions of this Act, the right to continue to be such member on and after such commencement. Explanation-- For the purposes of this section, an “urban society” means a society the business of which mainly falls within the limits of a municipal corporation, municipality, cantonment, notified area or a sub-divisional town.