344. Meaning of unregistered company.

For the purposes of this Part, "unregistered company" shall include any trustee savings bank certified under the Trustee Savings Banks Acts, 1863 to 1958, any partnership, whether limited or not, any association and any company with the following exceptions - (a) a company as defined by section 2 (b) a partnership, association or company which consists of less than eight members and is not formed outside the State.