State Act

THE KARNATAKA SOUHARDA SAHAKARI ACT, 1997

1[21B- Associate membership.- (1) A Co-operative may admit,- (a) any individual; or (b) any firm, company, Co-operative society or any body or corporation constituted by or under any law for the time being inforce - as an associate member for a specific purpose as specified in its byelaws; 2[Provided that other than employees co-operatives number of associate members shall not exceed fifteen percent of the total members.] 2 (2) An associate members can have shares of Co-operative but is not eligible to be an office-bearer of Co-operative. An associate member cannot take part in the management of Co-operative and cannot vote in any meetings or election of the Co-operative. (3) Save as provided in this section an associate member shall have all the rights and duties of a member as specified in the byelaws of a Co-operative.]1