Section 6(2) in The Assam State Co-operative Agriculture and Rural Development Bank Limited
(2)Nominal Membership - The nominal membership of the Bank shall be open to-(a)All persons who are Co-applicants for loan ; Coperceners co-pattadars, lineal ascendants or descendants of the applicant and members of the family of the applicant and all other persons who have a right tile or interest in or upon the property of the applicant provided that such persons-(i)are above the age of 18 years ;(ii)are competent to contract; and(iii)have not been convicted in any offence involving moral turpitude;(b)Such nominal members shall hold at least one share, each of the value of which shall be Rs. 5.00 (Rupees five) only ;(c)Such nominal members shall have no right to vote, shall not be eligible for election or nomination as a member of any committee under these bye-laws;(d)Such share of Rs. 5.00 (Rupees five) only shall be non-refundable non-transferable and no dividend shall be paid on such shares.
