Section 8 in Jammu and Kashmir Co-Operative Societies Act, 1989
8. Registration with limited or unlimited liability..
(1)A Co-operative Society may subject to the provisions of sub-section (2) be registered with or without limited liability.(2)Unless the Government by general or special order otherwise directs:-(a)a Co-operative Society shall be registered with limited liability, if any, of its members is a member of another Co-operative Society;(b)whether the liability of the members of a Co-operative Society is unlimited or limited by shares, the liability of the Government which has taken shares in Co-operative Society shall be limited to the share capital subscribed by the Government.(3)The word 'limited' shall be the last word in the name of every Society with limited liability registered under this Act.[8A. Conversion.. - (1) A Co-operative Credit Structure Society registered under this Act shall be eligible to become a member of a Central Level Co-operative registered under the provisions of the Jammu and Kashmir Self-Reliant Co-operatives Act, 1999.(2)A Co-operative registered under Jammu and Kashmir Self-Reliant Co-operatives Act, 1999 may become the member of the Co-operative Federation registered under this Act.(3)A Co-operative Credit Structure Society may affiliate with, or disaffiliate from, a Co-operative Federation of its choice keeping in view the financial position of the Co-operative Federation:Provided that before disaffiliation, the Co-operative or the Society shall discharge its financial liability, if any, to the Society from which it is disaffiliating.][Inserted by Act No. X of 2010, Dated 28.4.2010, w.e.f. 29.4.2010.]
