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Bye-laws of co-operative societies

(1) Every 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 a co-operative society; 

(n) the purpose for which the funds may be applied; 

(o) the manner of allocation or disbursement of net profits of 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 committee not exceeding twenty one;

(u) the term of office of elected members of a committee shall be three years; 

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

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

(x) the frequency of committee meetings; 

(y) the powers and functions of the paid executive; 

(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, operate of bank accounts and to institute and defend suits and other legal proceedings on behalf of the society;

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

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

(ze) the terms on which a co-operative society may deal with organisations other than co-operative societies; 

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

(zg) the educational and training programmes to be conducted by the co-operative society; 

(zh) the principal place and other places of business of the co-operative society; 

(zi) the minimum level of services, to be used by its members;

(zj) any other matter which may be prescribed. 

Last Updated Date :- 09-05-2018

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  • Page last updated on: 10-11-2020