law: Co-Operative Societies Act, 1912
  4. Societies which may be registered
  Subject to the provisions hereinafter
  
  contained, a society which has as its object the promotion of the economic
  
  interests of its members in accordance with co-operative principles, or a
  
  society established with the object of facilitating the operations of such a
  
  society, may be registered under this Act with or without limited liability :
  Provided that unless the 4[State Government] by
  
  general or special order otherwise directs-
  (1) the liability of a society of which a
  
  member is a registered society shall be limited;
  (2) the liability of a society of which the
  
  object is the creation of funds to be lent to its members, and of which the
  
  majority of the members are agriculturists, and of which no member is a registered
  
  society, shall be unlimited.