(1) No person shall be a member of a co-operative society except the following namely—
(a) an individual, who is competent to contract under the Indian Contract Act, 1872 excepting the provisions contained in section 18 (3) (a) section 80 and sub-section 2 of section 81 & in respect of an individual seeking admission to a society exclusively formed for the benefit of students of a school, college or University;
(b) any other co-operative society;
(c) the State Government;
(d) the Central Government;
(e) the state Warehousing corporation established or deemed to be established under the Warehousing Corporation Act, 1962 (Act L VIII of 1962);
(f) a firm registered under the Indian partnership Act, 1932;
(g) a body corporate not covered by any other clause and approved by the Registrar, for ordinary or nominal membership of co-operative societies in general or any particular co-operative society or class of co-operative societies on the ground of its being useful in the development of such societies, society or class of societies;
(h) self help groups which fulfill the parameters approved by NABARD National Bank of Agriculture & rural Development);
(i) there shall be no restriction as to minimum age limit in societies constituted for the benefit of students.
(2) Notwithstanding any thing contained in sub-section (1) a joint-stock company or an individual shall not be admitted as an ordinary member in such co-operative society or societies or class of a co-operative societies as may be prescribed.
--------------------------------------------- Classes of members