The registration of a society shall render it a body corporate by the name under which it is registered, with perpetual succession and a common seal and with power to acquire and hold property, to enter into contract, to institute and defend suits and other legal proceedings and to do all thing necessary for the purposes for which it is constituted.
1[13 A. Promotion of Cooperative movement by Government. – (1) It shall be the duty of the State Government to encourage and promote the Cooperative movement in the State and to take such steps in this direction as may be necessary.
(2) Without prejudice to the generality of the provisions contained in subsection (1), the State Government may –
(a) With a view to aid the growth of a registered society in general or of any class of registered societies subscribe directly to the share capital of a registered society;
(b) assist indirectly in the formation and augmentation of the share capital of a registered society;
(c) give loans of make advances to a registered society or guarantee repayment of principal and payment of interest on debentures issued by a registered society or guarantee repayment of principal and payment of interest on loans or advances to a registered society.” 1[13 B. Display of Name. – Every Cooperative Society shall display name and address of its registered office as registered under the Bihar Cooperative Societies Act, 1935 in legible letters and as such conspicuous places of every such office where it carries its business and in the following also.
(a) Every information and authorised publication.
(b) All contracts, business, letters indents, Invoice, Statements of accounts, Money receipts, Vouchers etc.
(c) All Bills of Exchange, Promissory Notes, Endorsements, Cheques and pay orders which are signed by or on its behalf.
(2) Every registered Society must have the word/ words “ Cooperative” and “Limited/ unlimited” in its name in State language of synonymous words of other languages recognised in the State List.