The Multi-State Co-operative Societies Act, 2002

Chapter II — CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES

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

Section 10: Bye-laws of multi-State co-operative societies

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-operative society;

(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-operative societies;

(ze)

the terms on which a multi-State co-operative society may deal with organisation other than co-operative societies;

(zf)

the rights, if any, which the multi-State co-operative society may confer on any other multiState 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-operative society;

(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.