Amendment status not verified — confirm the current text below against the official source.
No co-operative society shall be registered under this Act unless it consists of at least fifteen members who are qualified to be members under this Act and who reside in the area of operation of the co-operative society : Provided that in the case of a primary co-operative society each of such members shall be a member of different family. Explanation .- For the purpose of this section the expression, "member of a family" means father, mother, wife, husband and dependent children. Restrictions on holding of shares.