(1) A cooperative society may be registered with or without limited liability:
Provided that -
(i) the liability of a co-operative society of which any member is
1. Clause (17) amended vide A.O. 1973 and substituted vide H.P. Act No. 19 of
2006.
2. Sub-section (1) substituted vide H.P. Act No. 19 of 2006.
3. Sub-section (4) inserted vide H.P. Act No. 19 of 2006.
THE HIMACHAL PRADESH CO-OPERATIVE SOCIETIES ACT, 1968 11 a co-operative society shall be limited; and
(ii) no co-operative society shall be registered as a society with unlimited liability if, amongst its objects, it also includes any object other than the advancement of loans to its members.
(2) The word `limited' or its equivalent in any Indian language shall be the last word in the name of co-operative society registered or deemed to be registered under this Act with limited liability.