Section 18 in Karnataka Co-Operative Societies Act, 1959
18. Nominal or associate members.
- [(1) Notwithstanding anything contained in section 16, a co-operative society may admit,-(a)any individual as a nominal or associate member;(b)any banking company as a nominal member.(c)[ any firm, company, co-operative society, or any body or corporation constituted by or under any law for the time being in force, as a nominal or associate member;](d)[ Self help group as nominal members] [Inserted by Act 24 of 2001 w.e.f. 5.9.2001.]Explanation. - In this sub-section "banking company" shall have the same meaning as is assigned to it in the Deposit Insurance Corporation Act, 1961 (Central Act 47 of 1961).(2)A nominal member shall not be entitled to any share in any form whatsoever in the assets or profits of the society and a nominal member who is an individual shall not also be entitled to become an [office bearer] [Substituted by Act 25 of 1998 w.e.f. 15.8.1998.] of the society.] [Sub-sections (1) and (2) substituted by Act 39 of 1975 w.e.f. 23.9.1975.](3)An associate member may hold shares but shall not be entitled to become an [office bearer] [Substituted by Act 25 of 1998 w.e.f. 15.8.1998.] of the society.(4)Save as provided in this section, a nominal or associate member shall have such privileges and rights of a member and be subject to such liabilities of a member, as may be specified in the bye-laws of the society.
