Multi-State Co-operative Societies Act,2002
Act No : 39
Section :
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 multi-State 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 such 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-operatives societies; (ze) the terms on which a multi-State co-operative society may deal with organisations other than co-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-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.
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