Amendment status not verified — confirm the current text below against the official source.
Disqualification for membership.- (1) No person shall be eligible for admission as a member of a co-operative society, if he,— (a) has applied to be adjudicated an insolvent or is an undischarged insolvent; or (b) has been sentenced for any offence, other than an offence of a political character or an offence not involving moral turpitude, such sentence not having been reversed or the offence pardoned and a period of five years has not elapsed from date of expiry of the sentence. 1 [(c) carries on 2 [XXX] 2 business of the kind carried on by such co- operative society; 2 [Explanation.—XXX] 2 (d) is already a member of a co-operative society carrying on business of the same kind as itself;] 1