Section 41 in The U.P. Co-operative Societies Rules, 1968
41. [ [Substituted by Notification No. 408-Cl/XII-CX-5(1)-69-B, dated 9-8-1973.]
(1)No person who is an individual shall be a member of Co- operative Society which gives loans in cash or kind or both to its members, if such person is an undischarged insolvent.(2)No person who is an individual shall be or continue as an ordinary member of the society if, in the opinion of the Registrar, he carries on the same kind of business as is being carried on by the society.] [Substituted by Notification No. 3815/C-1-77-7(5)-1977, dated 24-12-1977.]
