(1) A Co-operative society may admit any person or **[self-help group] or a co-operative society or any other statutory body notified by the Government in this behalf as an associate member in accordance with its bye-laws.
***Explanation :- For the purposes of this sub-section ―self help group‖ means and includes a group of persons for their economic development.
(2) An associate member shall not be entitled to any share in any form whatsoever, in the assets or profits of the co-operative society.
(3) Save as provided in this Act, an associate member shall have such privileges and rights of a member and be subject to such liabilities of a member as may be specified in the by laws of the society.