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of <h1>Section 16: Multi-State Co-Operative Societies Must Choose Liability Type; Unanimous Consent Required for Amendments</h1> Section 16 of the Multi-State Co-Operative Societies Act, 2002, prohibits the registration of new multi-state co-operative societies with unlimited liability after the Act's commencement. Existing societies with unlimited liability must choose within one year to either continue as such or convert to limited liability, following specified procedures. Societies can amend their bye-laws to change liability extent, notifying members and creditors, who have one month to withdraw shares, deposits, or loans. Non-responsive members or creditors are considered to have agreed to the change. Amendments take effect only with unanimous assent or after settling claims of dissenting members and creditors.
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