INKv^RMA/llOX RELATING TO CO-Ol'EKATION AND ASSUCIATIUX 



unlimited. Where the liabilit}' of the members of a society is Hmited by 

 shares, no member, other than a registered society, shall hold more than 

 such ]:)ortion of the share capital of the society as may be prescribed by the 

 rules, subject to a maximum of one fifth ; or have a claim or interest in the 

 shares of the society exceeding one thousand rupees (i) ". 



The minimum membership of a society, which includes no registered 

 society among its members, is seven. 



Where the liability of the members of a registered society is not lim 

 ited by shares, each member has one vote only. In the contrary case 

 he has as many votes as are prescribed by the by-laws. 



Subject to any prior claim of the government in respect of land reve-, 

 nue or any mioney recoverable as land revenue, or of a landlord in respect 

 of rent or any money reco^-erable as rent, a registered society i? entitled 

 in priority to other creditors, to enforce any outstanding demand for any- 

 thing due to it from a member or past member : a) in respect of the supply 

 of seed or manure or of the loan of money for the purchase of seed or ma- 

 nure, upon the crops or other agricultural produce of such member or per- 

 son at any time within eighteen months from the date of such supply or 

 loan ; b) in respect of the svipply of cattle, fodder for cattle, agricultural 

 or industrial implements or machinery, or raw materials for manufacture,- 

 or of the loan of money for the purchase of any of the foregoing things, 

 upon an^^ such things so supplied, or purchased in whole or in part from 

 such loan, or any articles matiufactured from raw materials so supplied 

 or purchased, at any time within three years from the date of such suppl}'' 

 or loan. 



The liability of a past member for the debts of a registered society, 

 as they existed at the time when he ceased to be a member, continues for 

 a period of two years from the date of his ceasing to be a member. 



The estate of a deceased member is liable, for a period of one year 

 from the time of his decease, for the debts of a registered society as they 

 existed at the time of his decease. 



The government may remit any stamp duty with which instruments 

 executed by or on behalf of a registered society may at any time be 

 chargeable, as well as any fee payable under any law of registration. 



The Trivandnim Central Co-operative Bank, Limited, to which we 

 have already alluded, aims at developing co-operative societies in Tra- 

 vancore ; financing them and carrying on banking business with them ; 

 controlling them when they have been affiliated to itself by careful and re- 

 gular inspection ; and encouraging thrift, self-help, and mutual trust and 

 confidence among its individual members. 



The capital of the bank is 100,000 rupees, made up of 1,000 shares of 

 100 rupees each. Not more than 500 shares may be allotted to members 

 other than societies ; and no member may at any time hold more than ten 

 shares. No member mav withdraw or transfer a share which he has not 



(i) I rupee = is. 4^. 



