Amendment status not verified — confirm the current text below against the official source.
The registration of a co-operative society shall render it a body corporate by the name under which it is registered having perpetual succession and a common seal, and with power to hold property, enter into contract, institute and defend suits and other legal proceedings and do all things necessary for the purposes for which it is constituted. First charge of co-operative society on certain movable assets of member for the amount due to him.