Limited liability means limited responsibilities. When we talk about the liabilities it is congested to the amount of their total investment to the company. The personal properties or assets do not influence the debt of the company. The personal things are not used to combine with the company responsibilities and debts.
The members of the company contribute some funds and from those funds, they make loans at simple interest.
The Mutual Benefit society enjoys a separate legal existence. The company and the members are vitally different. The company can own the assets and make the transactions by its own name. The debt also experiences in its own name. Thus in this way, it possesses separate legal existence.