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10. Bye-laws of multi-State co-operative societies.

(1) Every multi-State co-operative society may make its bye-laws consistent with the provisions of this Act and the rules made thereunder.

(2) In particular and without prejudice to the generality of the foregoing power, such bye-laws may provide for all or any of the following matters, namely:

(a) the name, address and area of operation of the society;

(b) the objects of the society;

(c) the services to be provided to its members; (d) the eligibility for obtaining membership; (e) the procedure for obtaining membership; (f) the conditions for continuing as member;

(g) the procedure for withdrawal of membership;

(h) the transfer of membership;

(i) the procedure for expulsion from membership;

(j) the rights and duties of the members;

(k) the nature and amount of capital of the society;

(l) the manner in which the maximum capital to which a single member can subscribe;

(m) the sources from which the funds may be raised by the multistate co-operativesociety; (n) the purpose for which the funds may be applied;

(o) the manner of allocation or disbursement of net profits of the multi-State co-operative society;

(p) the constitution of various reserves;

(q) the manner of convening general meetings and quorum thereof other than those provided under this Act;

(r) the procedure for notice and manner of voting, in general and other meetings;

(s) the procedure for amending the bye-laws;

(t) the number of members of the board not exceeding twenty-one;

(u) the tenure, of directors, chairperson and other office bearers of the society, not exceeding five years;

(v) the procedure for removal of members of the board and for filling up of vacancies;

(w) the manner of convening board meetings, its quorum, number of meetings in a year and venue of such meetings;

(x) the frequency of board meetings;

(y) the powers and functions of the Chief Executive in addition to those provided under section

52;

(z) the manner of imposing the penalty;

(za) the appointment, rights and duties of auditors and procedure for conduct of audit;

(zb) the authorisation of officers to sign documents and to institute and defend suits and other legal proceedings on behalf of the society;

(zc) the terms on which a multi-State co-operative society may deal with persons other than members;

(zd) the terms on which a multi-State co-operative society may associate with other co-operativesocieties;

(ze) the terms on which a multi-State co-operative society may deal with organisation other thanco-operative societies;

(zf) the rights, if any, which the multi-State co-operative society may confer on any other multi- State co-operative society or federal co-operative and the circumstances under which such rights may be exercised by the federal co-operative;

(zg) the procedure and manner for transfer of shares and interest in the name of a nominee in case of death of a member;

(zh) the educational and training programmes to be conducted by the multi-State co-operativesociety;

(zi) the principal place and other places of business of multi-State co-operative society;

(zj) the minimum level of services, to be used by its members; (zk) any other matter which may be prescribed.

10. Bye-laws of multi-State co-operative societies.

(1) Every multi-State co-operative society may make its bye-laws consistent with the provisions of this Act and the rules made thereunder.

(2) In particular and without prejudice to the generality of the foregoing power, such bye-laws may provide for all or any of the following matters, namely:

(a) the name, address and area of operation of the society;

(b) the objects of the society;

(c) the services to be provided to its members; (d) the eligibility for obtaining membership; (e) the procedure for obtaining membership; (f) the conditions for continuing as member;

(g) the procedure for withdrawal of membership;

(h) the transfer of membership;

(i) the procedure for expulsion from membership;

(j) the rights and duties of the members;

(k) the nature and amount of capital of the society;

(l) the manner in which the maximum capital to which a single member can subscribe;

(m) the sources from which the funds may be raised by the multistate co-operativesociety; (n) the purpose for which the funds may be applied;

(o) the manner of allocation or disbursement of net profits of the multi-State co-operative society;

(p) the constitution of various reserves;

(q) the manner of convening general meetings and quorum thereof other than those provided under this Act;

(r) the procedure for notice and manner of voting, in general and other meetings;

(s) the procedure for amending the bye-laws;

(t) the number of members of the board not exceeding twenty-one;

(u) the tenure, of directors, chairperson and other office bearers of the society, not exceeding five years;

(v) the procedure for removal of members of the board and for filling up of vacancies;

(w) the manner of convening board meetings, its quorum, number of meetings in a year and venue of such meetings;

(x) the frequency of board meetings;

(y) the powers and functions of the Chief Executive in addition to those provided under section

52;

(z) the manner of imposing the penalty;

(za) the appointment, rights and duties of auditors and procedure for conduct of audit;

(zb) the authorisation of officers to sign documents and to institute and defend suits and other legal proceedings on behalf of the society;

(zc) the terms on which a multi-State co-operative society may deal with persons other than members;

(zd) the terms on which a multi-State co-operative society may associate with other co-operativesocieties;

(ze) the terms on which a multi-State co-operative society may deal with organisation other thanco-operative societies;

(zf) the rights, if any, which the multi-State co-operative society may confer on any other multi- State co-operative society or federal co-operative and the circumstances under which such rights may be exercised by the federal co-operative;

(zg) the procedure and manner for transfer of shares and interest in the name of a nominee in case of death of a member;

(zh) the educational and training programmes to be conducted by the multi-State co-operativesociety;

(zi) the principal place and other places of business of multi-State co-operative society;

(zj) the minimum level of services, to be used by its members; (zk) any other matter which may be prescribed.



Multi-State Co-operative Societies Act, 2002 Back




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