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(1) Every co-operative society shall within a period of ninety days next after the date fixed for making-up its accounts for the year under the rules for the time being in force, call a general body meeting of its members for the purpose of
(a) approval of the programme of the activities of the co-operative society prepared by the committee for the ensuing year;
(b) election, if any, of the members of the committee other than the nominated members subject to the provisions of section 35;
(c) consideration of the audit report along with audited accounts and the annual report;
(d) disposal of the net profits; and
(e) consideration of any other matter which may be brought forward in accordance with the bye-laws.
(2) If a co-operative society fails to hold the annual general body meeting within the aforesaid period of ninety days, the Registrar or any person authorized by him may call such meeting in the manner prescribed and that meeting shall be deemed to be a general body meeting duly called by the co-operative society and the Registrar may order that the expenditure incurred in calling such a meeting shall be a charge on the delinquent members of the committee of the co-operative society who have failed to conduct the general body meeting within the prescribed time limit and the said amount shall be recoverable as arrears of land revenue from such delinquent members of the co-operative society in the same manner as provided in section 111.
(3) At every annual general body meeting of the co-operative society, the committee shall lay before the general body a statement showing the details of the loans, if any, given to any of the members of the committee during the preceding year.
Last Updated Date :- 09-05-2018
Page last updated on: 22-09-2021