Persons who may become members.-(1) No person shall be admitted as a member of the cooperative society accept the following, namely:-
(a) an individual, competent to contract under section 11 of the Indian Contract Act, 1872 (9 of 1872);
(b) any Multi State Cooperative society or any Cooperative society having different business and of different type;
(c) the Central Government;
(d) a State Government;
(e) the National Co-operative Development Corporation established under the National Cooperative Development Corporation Act, 1962 (26 of 1962);
(f) any other corporation owned or controlled by the Government;
(g) any Government company as defined in section 617 of the Companies Act, 1956 (l of 1956);
(h) such class or classes or persons or association of persons as may be permitted by the Central Registrar.
(2) No individual person shall be eligible for admission as a member of a national cooperative society or a federal cooperative.
(3) Any person eligible for membership of the multi state cooperative societies may, on his application, be admitted as a member by such society.
(4) Every application for admission as a member of a Multi State Cooperative Society shall be disposed of within a period of four months from the date of receipt of the application, and the decision of such society on the application shall be communicated to the applicant within fifteen days from the date of such decision.
(5) It shall be the duty of every member to promote and protect the interests and objects of such society.

More stuff on inspection books of indebted multi state cooperative societies.