Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 17] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 17(1) in Jammu and Kashmir Co-Operative Societies Act, 1989

(1)No person shall be admitted as member of Co-operative Society except the following, namely:-
(a)an individual who is-
(i)competent to contract under section 11 of the Jammu and Kashmir Contract Act, Samvat 1977;
(ii)a permanent resident of the State of Jammu and Kashmir as defined in section 6 of the Constitution of Jammu and Kashmir;
(b)any other Co-operative Society registered under this Act;
(c)a firm, company or any other body corporate constituted under any law for the time being in force or a Society registered under the Jammu and Kashmir Societies Registration Act, Samvat 1998:
Provided that every partner, director or member, as the case may be, of such firm, company, corporate body or society is a permanent resident of the State.
(d)[ a Self-help group. [Inserted by Act No. X 2010, Dated 28.4.2010.]
Explanation:- For purposes of clause (d), a self-help group means a homogeneous group of rural poor comprising of ten to twenty members, voluntarily formed to save small amounts out of their earnings and agreed upon to form a corpus or fund to be lent on loan to the members of such group.]