Section 21(1) in The Tamil Nadu Co-Operative Societies Act, 1983
(1)(a)Subject to the provisions of section 23-(i)any individual competent to contract under section 11 of the Indian Contract Act, 1872 (Central Act IX of 1872),(ii)any other registered society,(iii)the Government, and(iv)any body of persons whether incorporated or not and whether or not established by or under any law, if such body is approved by the Government in this behalf by general or special order,shall be eligible for admission as a member of a registered society:Provided that the individual or the registered society or the body of persons referred to in items (i), (ii) and (iv) shall possess such further qualifications as may be specified in the Rules or the bye-laws:Provided further that a Hindu undivided family as such shall not be eligible for admission as a member of a registered society:Provided also that persons who are minors or of unsound mind may be admitted as members of such class of registered societies as may be prescribed and such members shall possess only such privileges and rights of members and be subject only to such liabilities of members as may be prescribed:Provided also that no individual shall be eligible for admission as a member of any financing bank or apex society, except as an associate member.(b)Notwithstanding anything contained in this Act or in any other law for the time being in force, every individual member other than an associate member of every financing bank and every apex society shall cease to be a member of such bank or society, as the case may be, on and from such date as the Government may, by notification, specify and such individual member shall be entitled to receive his share or interest in the capital and other moneys due to him in such manner and within such time as may be prescribed.
