Section 16(1) in The Multi-State Co-Operative Societies Act, 2002
(1)No multi-State co-operative society with unlimited liability shall be registered after the commencement of this Act:Provided that where a multi-State co-operative society with unlimited liability was functioning before the commencement of this Act, such a society shall exercise the option within a period of one year from such commencement either to continue to function as such or to convert itself into a multi-State co-operative society with limited liability by following the procedure specified in sub-sections (2) to (4).
