Amendment status not verified — confirm the current text below against the official source.
Societies to be bodies corporate.--The registration of a 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 and hold property, to enter into contract, to institute and defend suits and other legal proceedings and to do all thing necessary for the purposes for which it is constituted. 3[13-A, Promotion of Co-operative movement by Government.--"(1) lt shall be the duty of the State Government to encourage and promote the voluntary forma tion, autonomous functioning, democratic control and professional management of Co-operative Societies in the State and to take such steps in this direction as. may be necessary. . (2) To encourage and promote the Co-operative Society, the State Government, if it deems necessary, may- (a) With a view to aid the growth of a Co-operative Society in general or of any class of registered societies subscribe directly to the share capital of a Co-operative Society; (b) assist in the formation and augmentation of the share capital of a Co-operative Society; (c) give roans or make advances to a Co-operative Society or guarantee repayment of principal amount and payment of interest on debentures issued' by a Cooperative society or guarantee repayment of principal amount and payment of interest on loans or advances to a Co-operative Society." Bihar Co-operative Societies Act, 1935 [11