State Act

Andaman and Nicobar Islands Cooperative Socities Regulation 1973

16.(1) Nominal or associate members:- Notwithstanding anything contained in section 15, a co-operative society may admit any person [including any bank referred to in sub-clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (v) of clause (g) of section 2] as a nominal or associate member in accordance with its bye-laws. (2) A nominal or 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 otherwise provided in this section, a nominal or 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 bye-laws of the co-operative society.