Section 5Part 2 — Registration
Conditions of registration
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The word “cooperative” shall form part of the name of every registered society.
The liability of every registered society which includes one or more registered societies among its members shall be limited.
The word “limited” shall be the last word in the name of every registered society with limited liability.
No society shall be registered under this Law under a name identical with that under which any other existing society is registered or so nearly resembling such name as to be likely to mislead the members of the public as to its identity.
A society that wishes to engage in credit union business under this Law shall not be registered without the determination of the Authority that the proposed directors and senior officers of that society are fit and proper persons.
Defined Terms
cooperativelimited