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Assam Co-Operative Societies Act, 2007
Assam Co-Operative Societies Act, 2007
Sections
1. Short title, extent and commencement.
Section 12. Definitions.
Section 23. The Registrar.
Section 34. Societies which may be registered.
Section 44A. Cooperative Bank to be eligible Cooperative Bank.
Section 4A5. Age, qualification of a member.
Section 56. Conditions of Registration.
Section 67. Restrictions on acquisition of shares in a cooperative society.
Section 78. Power of Registrar to decide certain questions.
Section 89. Byelaws.
Section 910. Application for registration.
Section 1011. Certificate of registration.
Section 1112. Amendment of the bye-laws of a registered society.
Section 1213. Division of cooperative societies.
Section 1314. Amalgamation of cooperative societies.
Section 1415. Merger of cooperative societies.
Section 1516. Location Head office.
Section 1617. Fees etc.
Section 1718. Eligibility of membership in cooperative society.
Section 1819. Disqualification of member.
Section 1920. Admission of member.
Section 2021. Withdrawal of membership.
Section 2122. Cessation of membership.
Section 2223. Termination of membership.
Section 2324. Register of member.
Section 2425. Education of member etc.
Section 2526. Rights and liabilities of members of registered societies and exercise of rights thereof.
Section 2627. Votes of members and manner of exercising vote.
Section 2728. Liabilities of past member and his estate.
Section 2829. General Assembly.
Section 2930. Matters to be dealt with in the Annual General Meeting.
Section 3031. Term of the Board.
Section 3132. General Meeting.
Section 3233. Special General Meeting.
Section 3334. Quorum of meetings of General Assembly.
Section 3435. Board.
Section 3536. President and Vice-President of cooperative society.
Section 3637. Disqualification of the members of the board and administrative council.
Section 3738. Powers and functions of the Board.
Section 3839. Annual General Meeting.
Section 3940. Eligibility for a Director in cooperative society.
Section 4041. Elections.
Section 4142. Term of Directors.
Section 4243. Board meeting.
Section 4344. Decision by majority of votes.
Section 4445. Minutes of proceedings of meetings.
Section 4546. Vacancies etc; not to invalidate proceedings.
Section 4647. Proceeding of Meeting to be deemed to be good and valid.
Section 4748. Power to depute Government Servant to manage the affairs of a Cooperative Society.
Section 4849. Chief Executive, his powers and functions and staff.
Section 4950. Votes of Members.
Section 5051. Loan to be utilised for the purpose for which advanced.
Section 5152. Restriction on transfer of share or interest.
Section 5253. Validity of transfer or charge of share or interest.
Section 5354. Share or interest not liable to attachment.
Section 5455. Nomination of Transferee.
Section 5556. Transfer of Interest on Death of Member.
Section 5657. Disposal of shares or interest of ceased members.
Section 5758. Liability of Members on winding up of society.
Section 5859. Restriction on transfer of possession of Land held under a society.
Section 5960. Right of a registered society to pay prior debts of a mortgagor.
Section 6061. Restriction on mortgaged property.
Section 6162. Bar to certain Claim.
Section 6263. Mobilisation of funds.
Section 6364. Deployment of funds and profits.
Section 6465. Disposal of surplus.
Section 6566. Management of deficit.
Section 6667. Operation of special funds.
Section 6768. Address of society.
Section 6869. Maintenance and inspection of documents.
Section 6970. Restrictions on borrowing.
Section 7071. Power of Government to give financial assistance.
Section 7172. Restriction on loans.
Section 7273. Office bearer of society is required to furnish information and produce documents.
Section 7374. Prior claims of societies.
Section 7475. Charge and set off in respect of shares or interest of members.
Section 7576. Deduction of dues from salary of members.
Section 7677. Exemption from compulsory registration and personal attendance for registration of instruments.
Section 7778. Exemption from registration of mortgage deeds executed in favour of cooperative land development bank or primary society.
Section 7879. Power to grant remission of certain duties, fees etc.
Section 7980. Accounts, records and documents to be maintained.
Section 8081. Audit.
Section 8182. Power of the Registrar to have the accounts written up.
Section 8283. Nature of audit.
Section 8384. Audit report.
Section 8485. Rectification of defect.
Section 8586. Re-Audit/Recasting of audit report.
Section 8687. Inquiry.
Section 8788. Inspection of society.
Section 8889. Cost of inquiry and inspection.
Section 8990. Prohibition of use of word "Cooperative" and Penalty.
Section 9091. Offence.
Section 9192. Reference of dispute.
Section 9293. Settlement of dispute.
Section 9394. Cancellation of Registration.
Section 9495. Winding up, Appointment of liquidator and his powers and functions.
Section 9596. Distribution of fund of a dissolved society.
Section 9697. Liquidator to deposit the books and submit a final report.
Section 9798. Disposal of surplus assets of liquidated Co-operative societies.
Section 9899. Bar of suit: or legal proceedings.
Section 99100. Final accounts.
Section 100101. Bar of suit.
Section 101102. Recovery of sums due and enforcement of obligations.
Section 102103. Charge and surcharge.
Section 103104. Punishment for false return, false information, disobeying summons, order etc.
Section 104105. Punishment for disposing property in contravention of Section 61.
Section 61106. Penalty for certain misdemeanours.
Section 106107. Power to enforce performance of obligations.
Section 107108. Cognizance of offence.
Section 108109. Indemnity.
Section 109110. Bar to Jurisdiction.
Section 110111. Appeal or Review.
Section 111112. Power of Attachment of property.
Section 112113. Registrar to be Civil Court for certain purpose.
Section 113114. Recovery of Sums Duo.
Section 114115. Registrar may order a meeting of creditors.
Section 115116. Previous sanction of Reserve Bank of India or Nabard in Certain Matters.
Section 116117. Society to be a body corporate.
Section 117118. Register of members.
Section 118119. Entries in book of registered society shall be received at prima facie evidence.
Section 119120. Savings of existing societies.
Section 120121. Construction of reference to Asian Cooperative Societies Act, 1949.
Section 121122. Act VII of 1913 not to apply.
Section 122123. Acts of societies, etc. not to be invalidated by certain defects.
Section 123124. Power to order recoupment of expenditure.
Section 124125. Supersession of the Board.
Section 125126. Power to seize records of society.
Section 126127. Power of the managing body of an affiliating society to enquire into the shin of a member society.
Section 127128. Limitation.
Section 128129. Information and returns to be filed; with Registrar.
Section 129130. Power to exempt societies from the operation of the Assam Money Lenders Act.
Section 130131. Power to make rules.
Section 131132. Repeal and Saving.
Section 132
Chapter XIV
133. Overriding effect of Chapter XIV.
Section 133134. Definitions.
Section 134135. Membership and voting right in Primary Agricultural Credit Society.
Section 135136. Autonomy of the co-operative Credit Structure Society.
Section 136137. State Governments subscription to the equity share capital of Co-operative Credit Structure Society.
Section 137138. Condition for member of the Board of the Co-operative Credit Structure Society.
Section 138139. Conditions for supersession of the Board of State Co-operative Bank.
Section 139140. Election to the co-operative Credit Structure Society.
Section 140141. Registration of bye-laws or amendments with the Registrar.
Section 141142. Registrar to prescribe prudential norms etc.
Section 142143. Criteria for appointment and removal of Chief Executive Officer and the members.
Section 143144. Professional to have knowledge and experience as stipulated by the Reserve Bank.
Section 144145. Audit.
Section 145146. Registrar's obligations.
Section 146147. Prohibition to use the nomenclature as Bank.
Section 147148. Prior approval of Reserve Bank in case of exemption of this Chapter.
Section 1481. Identity of the cooperative society:
Section 12. Aim and services:
Section 23. Membership :
Section 34. Member rights and obligations :
Section 45. General Body:
Section 56. Board of Directors:
Section 67. Chief Executive and staff:
Section 78. Finance:
Section 89. Secondary cooperative societies:
Section 910. Other matters:
Section 10
assam-co-operative-societies-act-2007.json
•
159 Sections
•
Assam
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"title": "Assam Co-Operative Societies Act, 2007",
"short_title": "Assam Co-Operative Societies Act, 2007",
"act_number": "(Assam Act No. 4 of 2012)",
"act_year": 2007,
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"number": "1",
"title": "1. Short title, extent and commencement.",
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"number": "2",
"title": "2. Definitions.",
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"content": "(a) \"Administrative Council\" means a body intermediary between a managing body and the General Assembly of a registered society;\n(b) \"Affiliating Society\" means the registered society of which a particular society is a member and \"Affiliated Society\" means the particular society which is a member of the affiliating society;\n(c) \"Arbitrator\" means a person appointed under the provisions of this Act to decide any dispute referred to him; ,\n(d) \"Audit Officer\" means a person appointed under the provisions of this Act to audit the accounts of a registered society;\n(e) \"area of operation\" means the area from which the membership is drawn;\n[(ea) \"authorized person\" means the persons authorized under the Assam Cooperative Societies Act, 2007 (Assam Act No. IV of 2012), for the offences relating to the Cooperative Societies and penalties for such offences as referred to in Article 243 ZQ of the Constitution of India;]\n(f) \"bye-law\" refers to the registered bye-laws of a Society for the time being in force and includes registered amendments of bye-laws of a Society;\n[(g) \"Board\" means the Board of Directors or the Governing Body of a Co-operative Society to which the direction and control of the management of the affairs of a Society is entrusted to;]\n(h) \"Co-operative Year\" means the period beginning and ending on such dates as may be fixed by the Registrar for the purpose of drawing up the Balance Sheets of registered societies and for all other purposes under this Act;\n(i) \"Co-operative Demand Certificate\" means a certificate as mentioned in sub-section (4) of Section 103 or sub-section (1) of Section 114;\n(j) \"Co-operative Society\" or \"society\" means a Co-operative Society registered under this Act and includes a society formed after amalgamation of such two or more societies or by division of an existing society;\n(jj) \"Co-operative Bank\" means a Co-operative Society registered under this Act carrying on the business of Banking as defined under Section 5(b) of the Banking Regulation Act, 1949 (Act No. 10 of 1 949), which shall also include Central Co-operative Bank and a State Co-operative Bank as defined under clauses (d) and (u) of Section 2 of the National Bank for Agriculture and Rural Development Act, 1981 (Act No 61 of 1981) and a Primary Co-operative Society carrying on the business of Banking;\n(k) \"Co-operative\" where used as a noun means an autonomous association of persons united voluntarily to meet their common socio-economic need through a jointly owned and democratically controlled enterprise formed in co-operative principles and registered under this Act;\n(l) \"Chief Executive\" means the individual, in paid or honorary capacity, nominated or elected or appointed by the Board from among members, Directors or others, in accordance with the bye-laws of the society who shall perform such functions, and responsibilities and exercise such powers as specified in the Act, bye-laws and assigned by the Board;\n(m) \"common need\" means the economic and social need which is common to all who wish to form a cooperative society;\n(n) \"Chief Auditor\" shall mean the senior most cooperative officer posted at the office of the Registrar;\n(o) \"delegate\" means a person elected by a group of individual members of a society to represent them in the general body of the cooperative society in accordance with the bye-laws of the society;\n(p) \"Director\" means the Director of the Board which shall be construed as member in case of Managing Committee;\n(q) \"Delegate General Body\" in relating to a cooperative society means all its delegates;\n(r) \"Delegate General Body Meeting\" means a meeting of the delegates, called and conducted in accordance with the provisions of this Act and the bye-laws;\n(s) \"employee\" means a person, not being an office bearer, employed by a registered society on a salary or similar form of remuneration other than advance patronage dividend or payment for goods sold to or through such society;\n(sa) \"Election Authority\" means the Registrar on whom the superintendence, direction and control of the preparation of electoral rolls for, and the conduct of, all elections to a Cooperative society has been vested under sub-section (1) of Section 41;\n(t) \"family\" means a person, his spouse, his children and parents dependent on him and jointly residing with him;\n(u) \"General Assembly\" in relation to a cooperative society means the higest authority of a registered society;\n(v) \"General Meeting\" means a meeting of the General Assembly called and conducted in accordance with the provisions of this Act and the bye-laws;\n(w) \"member\" means a person who is admitted as a member of the cooperative society in accordance with the Provisions of this Act and bye-laws of the society and shall include a cooperative self-help group and an institution;\n(x) \"Primary Cooperative Society\" means a President, Vice-President, Chairperson, Vice-Chairperson, Secretary or Treasurer of a Co-operative Society and includes (any other person to be elected by the Board of any Cooperative Society;\n(y) \"Primary Cooperative Society\" means a Cooperative Society whose membership is available only to individual and self help groups and voluntary institutions other than cooperative societies;\n(z) \"patronage dividend\" means the dividend paid to members in relation to their participation in the business of the society in accordance with the provisions of the bye-laws;\n(aa) \"prescribed\" means prescribed by rules made under this Act;\n(aaa) \"Promoter\" means any eligible person or registered Society signing the application for registration of a Cooperative society;\n(bb). \"Registered Society \" means a cooperative society registered under this Act and includes a society formed after amalgamation of such two or more societies or by division of such an existing society;\n(cc). \"Registrar\" means the officer appointed by the State Government under Section 3 to perform the duties of Registrar of Cooperative Societies under this Act;\n(dd). \"rules\" means rules made under this Act;\n(ee). \"Secondary Cooperative Society or Federal Cooperative Society\" means a cooperative society whose members are cooperative societies as well as individuals;\n(ff) \"surplus\" means the excess of income over expenditure of a cooperative society arrived at the end of a financial year after the payment of interest, if any, on share capital and before the payment of surplus refund and allocation of reserves and other funds;\n(gg) \"self help group (SHG)\" means a homogeneous group of persons voluntarily formed to save small amounts of their earnings and also to raise loans to be lent to its members on terms, as mutually agreed upon;\n(hh) \"Service\" means the main services provided to members, through which a cooperative society intends to meet the need common to all members for the fulfillment of which the cooperative society was formed;\n(hhh) \"State Level Cooperative society\" means a Cooperative Society having its area of operation extending to the whole of the State of Assam;\n(ii) \"Schedule\" means the Schedule appended to this Act.\nChapter - II\nRegistration of The Societies",
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"number": "3",
"title": "3. The Registrar.",
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"number": "4",
"title": "4. Societies which may be registered.",
"chapter": null,
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{
"number": "4A",
"title": "4A. Cooperative Bank to be eligible Cooperative Bank.",
"chapter": null,
"content": "(a) If so required by the Reserve Bank in the public interest or for preventing the Affairs of the Cooperative Bank being conducted in ,a manner detrimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made for the supersession of the committee of management or other managing body (by whatever name called) of the Cooperative Bank and the appointment of an administrator therefore for such period [not exceeding one year or as may be specified by the Reserve Bank from time to time] .\n(b), An order for the winding up of the Cooperative Bank or an order sanctioning scheme of compromise or arrangement or of amalgamation or reconstruction or an order for the supersession of the committee of management or other managing body (by whatever name called) of the Cooperative Bank and the appointment of an administrator therefore made with the previous sanction in writing or on the requisition of the Reserve Bank shall not be liable to be called (iii) question in any manner.\n(c) The liquidator or the insured Cooperative Bank or the transferee Cooperative Bank, as the case may be, shall be under an obligation to repay the Corporation in the circumstances, to the extent and in the manner referred to in Section 21 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (Act No. 47 of 1961).",
"footnote": "",
"is_definition": false,
"sort_order": 4
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"number": "5",
"title": "5. Age, qualification of a member.",
"chapter": null,
"content": "",
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"number": "6",
"title": "6. Conditions of Registration.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 6
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"number": "7",
"title": "7. Restrictions on acquisition of shares in a cooperative society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 7
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{
"number": "8",
"title": "8. Power of Registrar to decide certain questions.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 8
},
{
"number": "9",
"title": "9. Byelaws.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 9
},
{
"number": "10",
"title": "10. Application for registration.",
"chapter": null,
"content": "Schedule-A\n(a) four copies of the proposed bye-laws of the cooperative society as adopted by the applicants;\n(b) a true copy of the resolution passed at a meeting by the applicants adopting the bye-laws;\n(c) a list of names of the applicants with their complete address, occupation and equity participation and other details;\n(d) a scheme regarding viability of the proposed society, economically, financially, technically and cooperatively;\n[(e) a copy of treasury challan or proof of electronic payment as an evidence in support of payment of registration fee calculated as per the provisions of sub-section (1) of section 17 which shall be non-refundable.]",
"footnote": "",
"is_definition": false,
"sort_order": 10
},
{
"number": "11",
"title": "11. Certificate of registration.",
"chapter": null,
"content": "(a) the application is in conformity with the requirements laid down under this Act;\n(b) the object of the proposed cooperative society is the economic and social betterment of its members through the provision of services to fulfill such common need as specified in the proposed bye-laws;\n(c) the proposed bye-laws are not inconsistent with the provisions of this Act and are not against the aims and objects of the cooperative society :",
"footnote": "",
"is_definition": false,
"sort_order": 11
},
{
"number": "12",
"title": "12. Amendment of the bye-laws of a registered society.",
"chapter": null,
"content": "(a) a copy of the resolution adopting the amendment;\n(b) the date of the general meeting at which the amendment was adopted and the total number of members of the society on that date;\n(c) a list of members who attended such general meeting and a list of members who voted for or against the resolution in such general meeting.\n(a) the amendment is not inconsistent with the provisions of the Act or any of the existing societies with similar objectives or is not against the aims and objects of the cooperative society; and\n(b) the amendment is in conformity with the cooperative principles specified in Schedule-A.",
"footnote": "",
"is_definition": false,
"sort_order": 12
},
{
"number": "13",
"title": "13. Division of cooperative societies.",
"chapter": null,
"content": "(a) all claims of the members and creditors of the cooperative society who have exercised the option under sub-section (2) have been met in full or otherwise satisfied;\n(b) information of the intended division and settlement of claims members and creditors is sent to the Registrar and his approval is obtained; and\n(c) the certificates of registration and the original bye-laws of the resultant cooperative society signed and sealed by the Registrar are issued under Section 11.",
"footnote": "",
"is_definition": false,
"sort_order": 13
},
{
"number": "14",
"title": "14. Amalgamation of cooperative societies.",
"chapter": null,
"content": "(a) all claims of the members and creditors of each cooperative society who have exercised the option under sub-section (2) have been met in full or otherwise satisfied;\n(b) information of the intended amalgamation and settlement of claims of members and creditors is sent to the Registrar and his approval 15 obtained; and\n(c) the certificate of registration and the original bye-laws of the cooperative society which is formed as a result of amalgamation, signed and sealed by the Registrar, is issued under Section 11.",
"footnote": "",
"is_definition": false,
"sort_order": 14
},
{
"number": "15",
"title": "15. Merger of cooperative societies.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 15
},
{
"number": "16",
"title": "16. Location Head office.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 16
},
{
"number": "17",
"title": "17. Fees etc.",
"chapter": null,
"content": "Chapter - III\nMembership",
"footnote": "",
"is_definition": false,
"sort_order": 17
},
{
"number": "18",
"title": "18. Eligibility of membership in cooperative society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 18
},
{
"number": "19",
"title": "19. Disqualification of member.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 19
},
{
"number": "20",
"title": "20. Admission of member.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 20
},
{
"number": "21",
"title": "21. Withdrawal of membership.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 21
},
{
"number": "22",
"title": "22. Cessation of membership.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 22
},
{
"number": "23",
"title": "23. Termination of membership.",
"chapter": null,
"content": "(a) Intentionally does any act likely to injure the creditability of the cooperative society or bring it to disrepute; or\n(b) willfully deceives the cooperative society; or\n(c) has acted adversely to the objects or his act is detrimental to the interest of the cooperative society; or\n(d) persistently makes default in payment of his dues or fails to comply with the provisions of the bye-laws; or\n(e) having been admitted as a member subsequently becomes a member of any other society having common objective cooperative functioning within the jurisdiction of the cooperative society, of which he is member; or\n(f) does not use the services of the cooperative society for a period of three years or does not attend three consecutive Annual General Meetings, or he ceases to be a resident of the area of operation of the society:",
"footnote": "",
"is_definition": false,
"sort_order": 23
},
{
"number": "24",
"title": "24. Register of member.",
"chapter": null,
"content": "(i) whose admission is refused under sub-section (2) of Section 20; or\n(ii) who has withdrawn from membership under Section 21;\n(iii) who ceased to be a member under Section 22; or\n(iv) whose membership has been terminated under Section 23 shall be deleted from the register of members :",
"footnote": "",
"is_definition": false,
"sort_order": 24
},
{
"number": "25",
"title": "25. Education of member etc.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 25
},
{
"number": "26",
"title": "26. Rights and liabilities of members of registered societies and exercise of rights thereof.",
"chapter": null,
"content": "(i) at election of a member of the Board of such society;\n(ii) in any general meeting convened for framing the bye- laws of such society or any amendments thereto.",
"footnote": "",
"is_definition": false,
"sort_order": 26
},
{
"number": "27",
"title": "27. Votes of members and manner of exercising vote.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 27
},
{
"number": "28",
"title": "28. Liabilities of past member and his estate.",
"chapter": null,
"content": "Chapter -IV\nManagement",
"footnote": "",
"is_definition": false,
"sort_order": 28
},
{
"number": "29",
"title": "29. General Assembly.",
"chapter": null,
"content": "(i) that a registered society affiliated to such society may have more than one representative entitled to vote at general meetings of the society; and\n(ii) that only one third of the members of the General Assembly, excluding ex-officio members, may be individual members and the other two thirds being representatives of affiliated registered societies;\n(b) if the number of individual members exceeds one third of the total membership of the society the individual members shall elect at a special meeting to be called by the Secretary of the society not more than thirty days before the Annual General Meeting in the manner prescribed in the bye-laws to represent in the Annual General Meeting, those individual members who, as the representative of the body of individual members shall form the one third membership of the General Assembly for the purpose of voting at the Annual and other meetings of the General Assembly during the ensuing year. Only such elected representatives shall have the right to attend and vote at such general meeting.",
"footnote": "",
"is_definition": false,
"sort_order": 29
},
{
"number": "30",
"title": "30. Matters to be dealt with in the Annual General Meeting.",
"chapter": null,
"content": "(a) election of delegates and representatives, if fallen due;\n(b) consideration of the long term plan and budget, when required;\n(c) consideration of the annual operational plan and budget for the current financial year;\n(d) consideration of the annual report of activities for the previous financial year including provisional financial statements of accounts if not audited;\n(e) consideration of the audited financial statements of accounts, and the auditor's report relating to the previous financial year or years;\n(f) consideration of the report on deviations, if any from the approved budget relating to the previous financial year;\n(g) disposal of surplus, if any, of previous financial year;\n(h) management deficit, if any, of previous financial year;\n(i) creation of specific reserves and other funds;\n(j) review of actual utilization of reserves and other funds;\n(k) review of the report on the attendance at meeting by Directors;\n(l) review of the use of the cooperative societies' services by the directors;\n(m) appointment of internal auditor, fixation of remuneration paid to any Director or member of any committee or internal auditor in connection with his duties in that capacity or his attendance at concerned meetings;\n(n) review of quantum and percentage of service provided to non members vis-a-vis services provided to the members;\n(o) report of activities and accounts related to education of member and Director \"and staff training;\n(p) consideration of any other matter which may be brought before the meeting of the general body in accordance with the bye-laws;\n(q) expulsion of members;\n(r) disposal of appeals;\n(s) formulation of code of conduct the members of Board of Directors and officers appointed by the Board.\n(a) amendments of bye-laws;\n(b) removal of Directors and election of new Director;\n(c) membership of the cooperative society in secondary cooperative society;\n(d) partnership with other cooperative societies;\n(e) amalgamation, division, merger, transfer of assets and liabilities;\n(f) dissolution of the cooperative society;\n(g) consideration of the Registrar's report of inquiry and action taken thereon or reasons for the non completion of the inquiry.",
"footnote": "",
"is_definition": false,
"sort_order": 30
},
{
"number": "31",
"title": "31. Term of the Board.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 31
},
{
"number": "32",
"title": "32. General Meeting.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 32
},
{
"number": "33",
"title": "33. Special General Meeting.",
"chapter": null,
"content": "(a) signed by not less than twenty five percent of the members having right to vote; or\n(b) from the Registrar.",
"footnote": "",
"is_definition": false,
"sort_order": 33
},
{
"number": "34",
"title": "34. Quorum of meetings of General Assembly.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 34
},
{
"number": "35",
"title": "35. Board.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 35
},
{
"number": "36",
"title": "36. President and Vice-President of cooperative society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 36
},
{
"number": "37",
"title": "37. Disqualification of the members of the board and administrative council.",
"chapter": null,
"content": "(a) is adjudged by a competent court to be insolvent or of unsound mind;\n(b) has been punished with imprisonment for an offence involving moral turpitude or criminal activities;\n(c) is concerned or participates in the profit of any contract with the society;\n(d) in a credit society, failed to pay in three consecutive years immediately preceding the election at least an amount equivalent to any installments fixed for repayment of any loan or advance or credit or become defaulter to any other cooperative society;\n(e) has acted in a manner prejudicial to the interest of the cooperative society in' particular or the cooperative movement in general.",
"footnote": "",
"is_definition": false,
"sort_order": 37
},
{
"number": "38",
"title": "38. Powers and functions of the Board.",
"chapter": null,
"content": "(1) to interpret the organisational objectives, to set up specific goals towards achieving such objectives and to make periodic appraisal of operations;\n(2) to nominate, elect or appoint and remove the Chief Executive provided he is not a Government appointee;\n(3) to make provisions for the matters mentioned in Section 49 in respect of the staff of cooperative society;\n(4) to finalise long term perspective plan, annual plan and budget and to direct the affairs of the cooperative society in accordance with the plan and budget approved by the general body;\n(5) to arrange for funds;\n(6) to authorise acquisition and disposal of immovable property;\n(7) to frame, approve and amend regulations relating to services, funds, accounts and accountability and information and reporting systems;\n(8) to elect President and Vice-President in accordance with the provisions of the bye-laws;\n(9) to prepare the annual financial statement of accounts;\n(10) to hold Annual General Meeting in stipulated time; and\n(11) to remove President or Vice-President in accordance with sub-section (4) of Section 36.\n(12) to make policies and to lay down qualification and terms and conditions of service for appointment of Chief Executive and other staff of the Society.",
"footnote": "",
"is_definition": false,
"sort_order": 38
},
{
"number": "39",
"title": "39. Annual General Meeting.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 39
},
{
"number": "40",
"title": "40. Eligibility for a Director in cooperative society.",
"chapter": null,
"content": "(1) such member has the right to vote in the affairs of the cooperative society;\n(2) such member has patronised the services of the cooperative society during the previous financial year to the extent and in the manner specified in the bye-laws and has attended at least two Annual General Meetings in the previous five years;\n(3) such member has no pecuniary interest in any subsisting contract made with, or work being done for the cooperative society except as otherwise specified in the bye-laws;\n(4) the period of 1(five) years has elapsed from the date such member ceased to be a Director for the following reasons: -\n(a) not conducting or wrongly conducting the Annual General Meeting under Section 39 or Special General Meeting under sub-section (3) of Section 33 and Board meetings under sub-section (3) of Section 43;\n(b) non submission of annual report of activities, annual financial statement of accounts to the general body under sub-section (4) of Section 30;\n[(c) not conducting the meetings of the Board under sub-section (3) of section 43 or delegates or representatives under sub-section (4) of section 41;]\n(d) absence from Board meetings under sub-section (7) of Section 43;\n[(e) automatic dissolution under sub-section (4) of section 41;]\n(f) for failure to take follow up action on audit report as specified in Section 85.,\n(5) such member is free from default of any payment due to the society.",
"footnote": "",
"is_definition": false,
"sort_order": 40
},
{
"number": "41",
"title": "41. Elections.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 41
},
{
"number": "42",
"title": "42. Term of Directors.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 42
},
{
"number": "43",
"title": "43. Board meeting.",
"chapter": null,
"content": "(a) signed by not less than one third of the Directors of the Board; or\n(b) from the Registrar; or\n(c) from the auditor.",
"footnote": "",
"is_definition": false,
"sort_order": 43
},
{
"number": "44",
"title": "44. Decision by majority of votes.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 44
},
{
"number": "45",
"title": "45. Minutes of proceedings of meetings.",
"chapter": null,
"content": "(a) in the case of a general meeting or delegate general body meeting, by the person who presided the said meeting, or in the event of his death, unwillingness or incapacity to sign the minutes within the time required by the Chief Executive of the cooperative society for the purpose of submission of proceedings for approval and which shall be confirmed in the following meeting;\n(b) in the case of a Board meeting by the person who presided the said meeting or by the person who presides the following meeting, wherein the minutes are confirmed.\n(a) is or could reasonably be regarded as defamatory of any person;\n(b) is irrelevant or immaterial to the proceedings, or\n(c) is detrimental to the interest of the society, the Chairperson shall exercise discretion in regards to inclusion or deletion in the minutes on the grounds specified above.",
"footnote": "",
"is_definition": false,
"sort_order": 45
},
{
"number": "46",
"title": "46. Vacancies etc; not to invalidate proceedings.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 46
},
{
"number": "47",
"title": "47. Proceeding of Meeting to be deemed to be good and valid.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 47
},
{
"number": "48",
"title": "48. Power to depute Government Servant to manage the affairs of a Cooperative Society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 48
},
{
"number": "49",
"title": "49. Chief Executive, his powers and functions and staff.",
"chapter": null,
"content": "(b) The Chief Executive shall be the ex-officio member of the Board;\n(c) Where the State Government stands guarantee for repayment of any loan secured from any financial institution the Chief Executive may be appointed by the State Government and salary and allowances payable to other terms and conditions of service including pension, gratuity and other benefits of the Chief Executive shall be prescribed by the Government;\n(d) Notwithstanding anything contained in any law in force or bye-laws of the society, the Chief Executive appointed by the Government shall have full administrative control over the employees of the society in all matters including transfer, posting and disciplinary action. However, in case of dismissal of employees approval of the Board shall be necessary.\n(a) day-to-day management of the business of the cooperative society;\n(b) operating the accounts of the co-operative society and be responsible for making arrangements for safe custody of cash;\n(c) signing on the documents for and on behalf of the cooperative society;\n(d) making arrangements for the proper maintenance of various books and records of the cooperative society and for the correct preparation, timely submission of periodical statements and returns, in accordance with the provisions of this Act, the rules and the bye-laws;\n(e) convening meetings of the general body of the cooperative society, the Board and the Executive Committee and other committees or sub-committees constituted under provision of the Act and bye-laws and maintaining proper records for such meetings;\n(f) making appointments to the posts in the cooperative society in accordance with the bye-laws;\n(g) assisting the Board in the formulation of policies, objectives and planning;\n(h) furnishing to the Board periodical information necessary for appraising the operations and functions of the cooperative society;\n(i) to sue or be sued on behalf of the cooperative society; in\n(j) present the draft annual report and financial statements for the approval of the Board within thirty days of closure of the cooperative year;\n(k) performing such other duties, and exercising such other powers, as may be specified in the bye-laws of the cooperative society;\n(I) in case of dispute between the Chief Executive and the Board in any matter, the decision of the Registrar shall be binding on the both.",
"footnote": "",
"is_definition": false,
"sort_order": 49
},
{
"number": "50",
"title": "50. Votes of Members.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 50
},
{
"number": "51",
"title": "51. Loan to be utilised for the purpose for which advanced.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 51
},
{
"number": "52",
"title": "52. Restriction on transfer of share or interest.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 52
},
{
"number": "53",
"title": "53. Validity of transfer or charge of share or interest.",
"chapter": null,
"content": "(a) he has held such share or interest for not less than one year; and\n(b) the transferor or mortgager is either a member of such society or a person \"mere application for membership has been accepted.",
"footnote": "",
"is_definition": false,
"sort_order": 53
},
{
"number": "54",
"title": "54. Share or interest not liable to attachment.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 54
},
{
"number": "55",
"title": "55. Nomination of Transferee.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 55
},
{
"number": "56",
"title": "56. Transfer of Interest on Death of Member.",
"chapter": null,
"content": "(a) to the person, if any nominated in accordance with the provision of Section 55; or\n(b) if there is no such nominee or if the nominee is not available, or is difficult to be ascertained by the managing body, or if for any other cause such transfer cannot be made without unreasonable delay, the transfer of interest on death of a member shall be made to the person as may appear to the managing body to be the legal heir or legal representative of the deceased member, provided that ninety days have elapsed from the date of the member's death and no new claim shall be entertained after the said period of ninety days.",
"footnote": "",
"is_definition": false,
"sort_order": 56
},
{
"number": "57",
"title": "57. Disposal of shares or interest of ceased members.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 57
},
{
"number": "58",
"title": "58. Liability of Members on winding up of society.",
"chapter": null,
"content": "(a) in the case of a society with unlimited liability, without limit; and,\n(b) in the case of a society with limited liability, subject to such limitation of amount as may be provided in the bye-laws.",
"footnote": "",
"is_definition": false,
"sort_order": 58
},
{
"number": "59",
"title": "59. Restriction on transfer of possession of Land held under a society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 59
},
{
"number": "60",
"title": "60. Right of a registered society to pay prior debts of a mortgagor.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 60
},
{
"number": "61",
"title": "61. Restriction on mortgaged property.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 61
},
{
"number": "62",
"title": "62. Bar to certain Claim.",
"chapter": null,
"content": "Chapter - V\nFinance",
"footnote": "",
"is_definition": false,
"sort_order": 62
},
{
"number": "63",
"title": "63. Mobilisation of funds.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 63
},
{
"number": "64",
"title": "64. Deployment of funds and profits.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 64
},
{
"number": "65",
"title": "65. Disposal of surplus.",
"chapter": null,
"content": "(a) towards a deficit cover fund;\n(b) to be distributed as surplus refund among its members;\n(c) to develop its business;\n(d) towards reserves funds constituted in accordance with the bye-1aws;\n(e) to provide common services to its members;\n(f) to provide rewards or incentives to staff;\n(g) towards payment of bonus under the Payment of Bonus Act, 1965 (21 of 1965) to the employees;\n(h) towards writing off bad debts and losses not adjusted;\n(i) towards such purposes as may be specified in the bye-laws; and\n(j) to cooperative development fund.",
"footnote": "",
"is_definition": false,
"sort_order": 65
},
{
"number": "66",
"title": "66. Management of deficit.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 66
},
{
"number": "67",
"title": "67. Operation of special funds.",
"chapter": null,
"content": "(a) shall not be used in the business of the cooperative Society;\n(b) shall not form part of the assets of the cooperative society;\n(c) shall not be liable to attachment or be subject to any other process of any court or other authority; and\n(d) shall be administered in such manner as may be provided in the bye-laws.",
"footnote": "",
"is_definition": false,
"sort_order": 67
},
{
"number": "68",
"title": "68. Address of society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 68
},
{
"number": "69",
"title": "69. Maintenance and inspection of documents.",
"chapter": null,
"content": "(a) a copy of this Act;\n(b) a copy of the Rules framed under this Act;\n(c) a copy of the bye-laws of society;\n(d) a copy of all Rules framed under the bye-laws of the society;\n(e) annual Balance Sheet authenticated by the Audit Officer;\n(f) such other books, forms, register or other documents as may be prescribed by the Registrar.",
"footnote": "",
"is_definition": false,
"sort_order": 69
},
{
"number": "70",
"title": "70. Restrictions on borrowing.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 70
},
{
"number": "71",
"title": "71. Power of Government to give financial assistance.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 71
},
{
"number": "72",
"title": "72. Restriction on loans.",
"chapter": null,
"content": "(a) to any person other than a member except with the general or special sanction of the Registrar; provided that a loan may be given to a depositor of the society out of his deposit; or\n(b) to a member in excess of his normal credit limit fixed for that member by the society in accordance with the provision of the bye-laws, provided that in assessing normal credit limit the managing body shall take a full statement as to the member's means of earning;\n(c) to a member on the security of movable property or future movable property, unless the movable property is charged, hypothecated or pledged with the society;\n(d) on personal security without sureties, unless the borrowing member has unencumbered immovable property or attachable funded assets sufficient to cover the loan and a full statement of such securities is submitted by the borrower and the truth of the statement is ascertained by the managing body;\n(e) on personal security with sureties unless, the borrowing member and his surety together have unencumbered immovable property or attachable funded assets sufficient to cover the loan and a full statement of such securities is submitted by the borrower and the sureties separately and the truth of the statements is ascertained by the managing body;\n(f) to a member on personal security, with or without sureties, unless the loan is for a short period not exceeding the time required to reap the benefit of the loan and in no case exceeding three years.\n(b) the resolution of the managing body granting a loan under this section shall contain the names of all assenting members, and all the assenting members and secretary shall be held jointly and severally responsible for the issue of the loan and its recovery;\n(c) Notwithstanding the provisions of clauses (b), (c), (d), (e), and (f) of sub-section (1) and clauses (a) and (b) of this sub-section a registered society may issue a loan on mortgage of valuable security;\n(d) no person shall be accepted as a surety for any borrower unless he is also a member of the same registered society.",
"footnote": "",
"is_definition": false,
"sort_order": 72
},
{
"number": "73",
"title": "73. Office bearer of society is required to furnish information and produce documents.",
"chapter": null,
"content": "(b) any office bearer of a society or a liquidator may, on behalf of the society bid and purchase at a sale of mortgaged property.\nChapter - VI\nAccountability and Privileges of Registered Society",
"footnote": "",
"is_definition": false,
"sort_order": 73
},
{
"number": "74",
"title": "74. Prior claims of societies.",
"chapter": null,
"content": "(a) if such debt or the demand is due in respect of the supply, or any loan to provide the means of such supply, of seed, manure, labour, fodder for cattle or any other thing incidental to the conduct of agricultural operations upon the crops or agricultural produce of such member, past member, or belonging to the estate of such deceased member, at any time within two years from the date of such supply or loan or from the days on which the last installment of such supply or loan became repayable;\n(b) if such debt or demand is due in respect of the supply of or any loan for the purchase of cattle, agricultural implements or warehouses for the storage of agricultural produce in the manner and to the extent aforesaid upon the crops or agricultural produce of such member, past member or belonging to the estate of such deceased member and also upon the cattle, agricultural implements or warehouse thus supplied or purchased wholly or in part from any such loan;\n(c) if such debt or demand is due in respect of the supply of loan for the purchase of raw materials, industrial implements, machinery, workshop, warehouses or business premises upon the raw materials or other things supplied or purchased by such member, past member or the deceased member wholly or in part from any such loan and also upon any articles manufactured from raw materials or with implements or machinery so supplied or purchased wholly or in part from any such loan;\n(d) if such debt or demand is due in respect of any loan for the purchase, improvement or redemption of land or for the purchase or construction of any house, building or any portion thereof, upon the land purchased, improved or redeemed or the house or building so purchased or constructed by such member, past member or the deceased member from any such loan.\n(a) a member who makes an application for a loan to a cooperative society of which the majority of the members are agriculturists shall, if he owns any land or has any interest in any land as a tenant, make in such forms as may be prescribed, a declaration that he thereby creates a charge upon such land or such interest, or such portion thereof, as may be specified in the declaration for securing the repayment of the loan which the society may make to the members on the application and of future loans, if any, that may be made to him, from time to time by the society together with interest on such loan or loans;\n(b) a declaration made under clause (a) may be varied or cancelled at any time by the members making it, with the consent of the society in whose favour it is made;\n(c) any land or interest in land in respect of which a declaration has been made under clause (a) or any part of such land or interest, shall not be sold or otherwise transferred by the member making the declaration until the entire amount of the loan or loans taken by the member from the society together with interest thereon is paid to the society:\n(d) subject to any claim of the State Government in respect of land revenue or any sum recoverable as land revenue or as public demand, there shall be a first charge in favour of the society on the land or interest in land specified in the declaration made under clause (a) for and to the extent of the dues recoverable from the member making the declaration on account of the loan or loans together with any interest thereon made to him by the society:\n(e) every record-of-rights prepared and maintained under the Assam Land and Revenue Regulation, 1886 (Regulation I of 1886) or any other law for the time being in force shall also include the particulars of every charge on any land or any interest thereon created under clause (a).",
"footnote": "",
"is_definition": false,
"sort_order": 74
},
{
"number": "75",
"title": "75. Charge and set off in respect of shares or interest of members.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 75
},
{
"number": "76",
"title": "76. Deduction of dues from salary of members.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 76
},
{
"number": "77",
"title": "77. Exemption from compulsory registration and personal attendance for registration of instruments.",
"chapter": null,
"content": "(1) any instrument relating to share in a registered society, notwithstanding that assets of such society consists in whole or in part of immovable property; or\n(2) any debenture issued by any such society and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property, except, in so far as it entitles the holder to the security afforded by a registered instrument whereby the society has mortgaged, conveyed or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holder of such debentures;\n(3) any endorsement upon or transfer of any debenture issued by any such society;\n(4) notwithstanding anything contained in the Indian Registration Act, 1908 (Central Act XVI of 1908), it shall not be necessary for any office bearer of a registered society or a liquidator of a society to appear in person or by agent at any registration office in any proceeding connected with the registration of any instrument executed by him in his official capacity or to sign as provided in Section 58 of that Act.",
"footnote": "",
"is_definition": false,
"sort_order": 77
},
{
"number": "78",
"title": "78. Exemption from registration of mortgage deeds executed in favour of cooperative land development bank or primary society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 78
},
{
"number": "79",
"title": "79. Power to grant remission of certain duties, fees etc.",
"chapter": null,
"content": "(a) the stamp duty other than stamp duties falling within item 91 or item 96 in List - I of Seventh Schedule to the Constitution of India in respect of any instrument executed by or on behalf of a member thereof, and relating to the business of such society or any class of such instruments, cooperative demand certificates or decisions, awards or orders of Registrar or arbitrators under this Act, in cases where, but for such remission, the registered society, Officer or member thereof, as the case may he, would be liable to pay the stamp duty chargeable under any law for the time being in force, in respect of such instrument, and\n(b) any fee payable by a registered society under any law for the time being in force for the registration of documents or of court for the time being in force.",
"footnote": "",
"is_definition": false,
"sort_order": 79
},
{
"number": "80",
"title": "80. Accounts, records and documents to be maintained.",
"chapter": null,
"content": "(a) a copy of this Act with amendments made therein from time to time;\n(b) copies of other laws and regulations to which the cooperative society is a subject;\n(c) a copy of its bye-laws, with amendments made therein from time to time;\n(d) a copy of the Regulations framed under clause (7) of Section 38 and amendments made therein from time to time;\n(e) the minutes books;\n(f) accounts of all sums of money received and expended by the cooperative society and their respective purposes;\n(g) account of all purchases and sales of goods by the cooperative society;\n(h) account of the assets and liabilities of the cooperative society;\n(i) a list of members, their fulfillment of responsibilities over the previous financial year, their eligibility to exercise their rights for the current twelve months period updated within sixty days of closure of the cooperative year; and\n(j) all such other accounts, records and documents as may be required by this Act or other laws and regulations or bye-laws of the cooperative society :\nChapter - VII\nAudit",
"footnote": "",
"is_definition": false,
"sort_order": 80
},
{
"number": "81",
"title": "81. Audit.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 81
},
{
"number": "82",
"title": "82. Power of the Registrar to have the accounts written up.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 82
},
{
"number": "83",
"title": "83. Nature of audit.",
"chapter": null,
"content": "(a) a verification of the cash balance and securities;\n(b) a verification of the balance at the credit of the depositors and creditors and the amounts due from the debtors of the society;\n(c) an examination of overdue debts, if any;\n(d) the valuation of the assets including stock verifications, and liabilities of the society;\n(e) an examination of the statement of accounts and balance sheets to be prepared by the managing body of the society in such forms as may be prescribed;\n(f) a certification of the realised profits; and\n(g) any other relevant matter.\n(a) statement whether the auditor has obtained all the information and explanations which to the best of his knowledge and belief were necessary for the purpose of the audit;\n(b) statement whether the balance sheet of cooperative society and income and expenditure account dealt with by the report are in agreement with the books of accounts;\n(c) statement indicating the basis on which each asset and liability was valued and mentioned specifically any change in the manner in which such valuation was done in the. financial year under examination and its effect on surplus or deficit;\n(d) statement indicating the amount of surplus earned or deficit incurred from provision of services to non-members as distinct from surplus earned or deficit incurred because of service to members or in normal course of business;\n(e) statement indicating every deviation in actual expenses and income from the estimated expenses and income in the approved budget;\n(f) statement whether or not any of the Directors had at any time during the financial year under review, become ineligible under this Act to continue in office as a Director, and\n(g) statement whether the decisions on disposal of surplus or assessment of deficit of the general body at its previous Annual General Meeting were implemented correctly and completely or not.",
"footnote": "",
"is_definition": false,
"sort_order": 83
},
{
"number": "84",
"title": "84. Audit report.",
"chapter": null,
"content": "(a) every transaction which appears to him to be contrary to law or to the rules or bye-laws;\n(b) every sum which ought to have been brought but has not been brought into account;\n(c) the amount of deficiency or loss which appears to have resulted from any negligence or misconduct that requires further investigation;\n(d) any money or property belonging to the society which appears to have been misappropriated or fraudulently retained by any person;\n(e) any of the assets which appears to him to be bad or doubtful;\n(f) any irregularity in maintaining the account;\n(g) any other relevant matter under Section 83; and\n(h) The audit report of the accounts of a co-operative society shall be [submitted to the State Government] by the Registrar in any one of the sessions immediately after expiry of [210 days] from the closure of the Co-operative year.",
"footnote": "",
"is_definition": false,
"sort_order": 84
},
{
"number": "85",
"title": "85. Rectification of defect.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 85
},
{
"number": "86",
"title": "86. Re-Audit/Recasting of audit report.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 86
},
{
"number": "87",
"title": "87. Inquiry.",
"chapter": null,
"content": "(a) within a period of thirty days from the date of the completion of the inquiry, communicate the report of the inquiry-\n(i) to the cooperative society concerned; and\n(ii) to the applicant secondary cooperative society; or\n(iii) to the applicant creditor; or\n(iv) to the person designated by the applicant Directors; or\n(v) to the person designated by the applicant members, as the case may be;\n(b) within a period of fifteen days from the date of expiry of the period mentioned in sub-section (3) communicate the reasons for the non-completion of the inquiry within the specified period along with the period which is likely to be taken for completion of inquiry, to the parties concerned under sub-section 4(a).",
"footnote": "",
"is_definition": false,
"sort_order": 87
},
{
"number": "88",
"title": "88. Inspection of society.",
"chapter": null,
"content": "(i) the creditor deposits with the Registrar such sum as security for the cost of the proposed inspection as the Registrar may require; and\n(ii) the creditor satisfies the Registrar that the alleged debt is a sum then due and that he has demanded payment thereof and has not received satisfactory response within a reasonable time :\n(b) the inspection may be carried out by an officer or any other member of the paid staff of financing bank.\n(c) the officer or any other member of the paid staff of the financing bank undertaking such inspection, shall at all reasonable time have access to the books of account, documents, securities, cash and other properties belonging to or in the custody of the cooperative society for inspection by him. Such information, statements and returns as may be required by him to assess the financial conditions of the society and the safety of the financial assistance to be made to the society or already made to it.",
"footnote": "",
"is_definition": false,
"sort_order": 88
},
{
"number": "89",
"title": "89. Cost of inquiry and inspection.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 89
},
{
"number": "90",
"title": "90. Prohibition of use of word \"Cooperative\" and Penalty.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 90
},
{
"number": "91",
"title": "91. Offence.",
"chapter": null,
"content": "(a) contains an untrue statement of a material; or\n(b) omits to state a material fact required in the report or makes a statement contained in the report misleading in the light of the circumstances in which it was made;\n(a) in case of an individual, with imprisonment for a term which may extend to ninety days or with fine which may extend to rupees ten thousand or both;\n(b) in the case of juristic person other than an individual, with a fine which may extend to rupees ten thousand.\n(b) Notwithstanding anything contained in clause (a) where an offence has been committed by a cooperative society, and it is proved that the offence has been committed with the consent of and connivance of or that the commission of the offence is attributable to any neglect on the part of any Director, Manager, Secretary or other officer of the cooperative society, such Director, Manager, Secretary or other officer shall also be deemed to be guilty of that offence and shall be punishable with imprisonment for a term which may extend to ninety days or with fine of one thousand rupees or with both.\n(a) was not known to him, and\n(b) after exercising reasonable diligence fact could not have been known to him.\n(a) without reasonable cause, contravenes a provision of, this Act for which no penalty is otherwise provided, or\n(b) fails to file or furnish return or to give any notice or to send any document required by the provisions of this Act, - shall be guilty of an offence and shall, on summary conviction, be punishable with a fine which may extend to two thousand rupees.\nChapter - VIII\nStatement of Disputes",
"footnote": "",
"is_definition": false,
"sort_order": 91
},
{
"number": "92",
"title": "92. Reference of dispute.",
"chapter": null,
"content": "(a) the society, its past or present controlling or managing body any past or present officer, agent or employee or the liquidator of the society, or\n(b) member, past member or persons claiming through a member, past member or deceased member of the society, or\n(c) a surety of a member, a past member or deceased member of a society, or\n(d) any other registered society or the liquidator of the society, or\n(e) a registered society and a financing bank.",
"footnote": "",
"is_definition": false,
"sort_order": 92
},
{
"number": "93",
"title": "93. Settlement of dispute.",
"chapter": null,
"content": "(a) decide the dispute himself or authorize any other Government officer to decide the dispute; or\n(b) refer it for disposal to an arbitrator appointed by the Registrar or to three arbitrators one to be nominated by each of the parties to the dispute and the third who shall be nominated by the Registrar to act as Chairman. Where any party to the dispute fails to nominate an arbitrator within fifteen days after the communication of this notice, the Registrar may himself make the nomination. No legal practitioner may be nominated as an arbitrator by any party to a dispute or by the Registrar;\n(c) an arbitrator appointed under the previous sub-clause shall be governed by the Indian Arbitration Act, 1940 (X of 1940), with such statutory re-enactment or modification thereof as shall from time to time be made.\n(a) is about to dispose of the whole or any part of his property, or\n(b) is about to remove the whole or any part of his property from the local limits of the jurisdiction of the Registrar; the Registrar may direct the conditional attachment of the said property or such part thereof as he deems necessary, and such attachment shall have the same effect as if it had been made by a competent Civil Court.\nChapter - IX\nDissolution of a Society",
"footnote": "",
"is_definition": false,
"sort_order": 93
},
{
"number": "94",
"title": "94. Cancellation of Registration.",
"chapter": null,
"content": "(i) has not commenced working; or\n(ii) has ceased working; or\n(iii) has ceased to comply materially with any condition as to registration in this Act, Rules or Bye-laws; and\n(iv) in his opinion ought to be dissolved.",
"footnote": "",
"is_definition": false,
"sort_order": 94
},
{
"number": "95",
"title": "95. Winding up, Appointment of liquidator and his powers and functions.",
"chapter": null,
"content": "(a) to institute, compromise and defend suits and other legal proceedings on behalf of the society;\n(b) to make any compromise or arrangement with any person between whom and the society there exists any dispute;\n(c) to determine the debts due to the society by a member, past member or estate, nominees, heirs or legal representatives of deceased members;\n(d) to determine from time to time the contribution to be made or remaining to be made by the members, past members or by the estate or nominees, heirs or legal representative of deceased members or by any officers or former officers, to the assets of the society and to determine the debts due from such members or persons and the cost of liquidation;\n(e) to calculate the cost of liquidation and to determine by what persons and in what proportion they are to be borne;\n(f) to investigate all claims against the society and subject to the provisions of this Act to decide questions of priority arising between claimants;\n(g) to pay claims against the society including interest up to date of cancellation of registration according to their respective priorities, if any, in full or rate ably as the assets including the reserve fund of the society, permit; the surplus, if any, remaining after payment of claims being applied in payment of interest from the date of such cancellation at the rate fixed by him but not exceeding the contract rate in any case;\n(h) to take step to recover dues according to the provisions of Section 102, if necessary; and\n(i) to dispose of the surplus, if any, remaining after paying the claims against the society in accordance with Section 96.",
"footnote": "",
"is_definition": false,
"sort_order": 95
},
{
"number": "96",
"title": "96. Distribution of fund of a dissolved society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 96
},
{
"number": "97",
"title": "97. Liquidator to deposit the books and submit a final report.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 97
},
{
"number": "98",
"title": "98. Disposal of surplus assets of liquidated Co-operative societies.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 98
},
{
"number": "99",
"title": "99. Bar of suit: or legal proceedings.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 99
},
{
"number": "100",
"title": "100. Final accounts.",
"chapter": null,
"content": "(a) issue direction with respect to the custody or disposal of the documents and records of the cooperative society; and\n(b) discharge the liquidator.",
"footnote": "",
"is_definition": false,
"sort_order": 100
},
{
"number": "101",
"title": "101. Bar of suit.",
"chapter": null,
"content": "Chapter - X\nRecovery of Sums Due",
"footnote": "",
"is_definition": false,
"sort_order": 101
},
{
"number": "102",
"title": "102. Recovery of sums due and enforcement of obligations.",
"chapter": null,
"content": "(b) On receipt of such application the Registrar or the person authorized by him may, notwithstanding anything contained in the Transfer of Property Act, 1882, take action in the manner as prescribed for the purpose of detraining and selling such produce:\n(c) The value of the property distrained shall be, as nearly as possible equal to the amount due and the expenses of the distraint and the costs of the sale.",
"footnote": "",
"is_definition": false,
"sort_order": 102
},
{
"number": "103",
"title": "103. Charge and surcharge.",
"chapter": null,
"content": "(a) intentionally, whether individually or as an assenting member of any managing or other controlling body, made or authorized any payment or granted any loan which is contrary to the provision of this Act or to the Rules or Bye-laws or failed to take timely steps to recovery any loan at the due date or it was being improperly utilized: or\n(b) was grossly negligent in respect of any loss or deficiency;\n(c) failed to bring into account any sum which ought to have been brought into account; or\n(d) misappropriated or fraudulently retained any property of the society; or\n(e) committed breach of trust in relation to the society, the Registrar may inquire into the conduct of such officer or members of the managing or other controlling body.\nChapter - XI\nPenalty",
"footnote": "",
"is_definition": false,
"sort_order": 103
},
{
"number": "104",
"title": "104. Punishment for false return, false information, disobeying summons, order etc.",
"chapter": null,
"content": "(a) willfully makes a false return or furnishes false information or willfully neglects or refuses to do any act required by this Act or any Rules or Bye-laws or does anything contrary to this Act or any Rules, or Bye-laws or fails to submit returns; or\n(b) any person willfully or without reasonable excuse disobeys any summons, requisition or lawfully written order issued under the provisions of this Act or does not produce document or cash balance of the society or does not furnish any information lawfullly required from him by a person authorized in this behalf under the provisions of this Act or fail to maintain up-to-date account, record and other documents of the society required to be maintained by him under this Act or Rules or Bye-laws he shall be punishable with fine which may extend to five thousand rupees, and in the case of a continuing offence a further fine of fifty rupees for each day on which the offences are continued after conviction thereof ;or\n(c) any officer or custodian who willfully fails to hand over custody of books, accounts, documents, records, cash, security and other property belonging to a co-operative society of which he is an officer and custodian, to an authorized person; or\n(d) any employer who, without sufficient cause fails to pay to a co-operative society amount deducted by him from its employee within a period of fourteen days from the date on which such deduction is made shall be punishable as per provision of clause (b).",
"footnote": "",
"is_definition": false,
"sort_order": 104
},
{
"number": "61",
"title": "105. Punishment for disposing property in contravention of Section 61.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 105
},
{
"number": "106",
"title": "106. Penalty for certain misdemeanours.",
"chapter": null,
"content": "(a) by sitting or voting or exercising his rights as a member, or as a member of any managing or controlling body, or voting in the affairs of a registered society as a representative of another society which is a member of such society, when such person was not entitled so to sit, vote or exercise such rights, as the case may be;\n(b) or by utilizing a loan for a purpose different from that for which it was granted; the Registrar may, after affording such person an opportunity to be heard by an order in writing, direct him to pay to the assets of the society by way of penalty such sum not exceeding five thousand rupees as the Registrar thinks fit; or\n(c) whoever, before, during or after the election of members of the Board or office bearers, adopts any corrupt practice, the Registrar may, after giving such person an opportunity of being heard, by an order in writing, direct him to pay to the asset of the society by way of penalty by such sum as the Registrar may deem fit.",
"footnote": "",
"is_definition": false,
"sort_order": 106
},
{
"number": "107",
"title": "107. Power to enforce performance of obligations.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 107
},
{
"number": "108",
"title": "108. Cognizance of offence.",
"chapter": null,
"content": "Chapter - XII\nJurisdiction",
"footnote": "",
"is_definition": false,
"sort_order": 108
},
{
"number": "109",
"title": "109. Indemnity.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 109
},
{
"number": "110",
"title": "110. Bar to Jurisdiction.",
"chapter": null,
"content": "(a) registration of a society-or its bye-laws or amendments of bye-laws; or\n(b) the dissolution of a managing or controlling body and the management of the affairs of the society on dissolution thereof; or\n(c) any dispute referred to the Registrar; or\n(d) any matter in relation to the winding up and dissolution of a registered society.",
"footnote": "",
"is_definition": false,
"sort_order": 110
},
{
"number": "111",
"title": "111. Appeal or Review.",
"chapter": null,
"content": "(a) is being wound up; or\n(b) in respect of which a scheme of amalgamation or reorganization is given effect, no appeal thereof shall lie or be permissible without the sanction or requisition of the Reserve Bank and that shall not be liable to be called in question.",
"footnote": "",
"is_definition": false,
"sort_order": 111
},
{
"number": "112",
"title": "112. Power of Attachment of property.",
"chapter": null,
"content": "(a) is about to dispose of the whole or any part of such property; or\n(b) is about to remove the whole or any part of such property or from the local limits of the jurisdiction of the Registrar or of such Gazetted officer, may unless adequate security is furnished, as he may require, direct the conditional attachment of the said property or such part thereof as he thinks necessary, notwithstanding that the claimant or owner of the property may reside elsewhere, and such attachment shall have the same force and effect as if it had been made by a competent Civil Court and shall continue in force until withdrawn or cancelled.",
"footnote": "",
"is_definition": false,
"sort_order": 112
},
{
"number": "113",
"title": "113. Registrar to be Civil Court for certain purpose.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 113
},
{
"number": "114",
"title": "114. Recovery of Sums Duo.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 114
},
{
"number": "115",
"title": "115. Registrar may order a meeting of creditors.",
"chapter": null,
"content": "Chapter - XIII\nMiscellaneous",
"footnote": "",
"is_definition": false,
"sort_order": 115
},
{
"number": "116",
"title": "116. Previous sanction of Reserve Bank of India or Nabard in Certain Matters.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 116
},
{
"number": "117",
"title": "117. Society to be a body corporate.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 117
},
{
"number": "118",
"title": "118. Register of members.",
"chapter": null,
"content": "(a) the date on which the name of any person was entered in such register or list as a member, and\n(b) the date on which any such member ceased to be a member.",
"footnote": "",
"is_definition": false,
"sort_order": 118
},
{
"number": "119",
"title": "119. Entries in book of registered society shall be received at prima facie evidence.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 119
},
{
"number": "120",
"title": "120. Savings of existing societies.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 120
},
{
"number": "121",
"title": "121. Construction of reference to Asian Cooperative Societies Act, 1949.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 121
},
{
"number": "122",
"title": "122. Act VII of 1913 not to apply.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 122
},
{
"number": "123",
"title": "123. Acts of societies, etc. not to be invalidated by certain defects.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 123
},
{
"number": "124",
"title": "124. Power to order recoupment of expenditure.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 124
},
{
"number": "125",
"title": "125. Supersession of the Board.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 125
},
{
"number": "126",
"title": "126. Power to seize records of society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 126
},
{
"number": "127",
"title": "127. Power of the managing body of an affiliating society to enquire into the shin of a member society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 127
},
{
"number": "128",
"title": "128. Limitation.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 128
},
{
"number": "129",
"title": "129. Information and returns to be filed; with Registrar.",
"chapter": null,
"content": "(a) annual report of activities;\n(b) annual financial statements of accounts as audited with auditor's report thereon;\n(c) statistical statements indicating name of the cooperative society, services offered by the Cooperative society to the members, total number of members as on the last day of the financial year;\n(d) total liabilities expressed as -\n(i) funds from members and surpluses;\n(ii) funds from other external sources as on the last day of the financial year;\n(iii) quantum of rupees or services provided to members and non members, and surplus or deficit at the end of the financial year; and\n(e) annual disposal of surplus or management defici;\n(f) declaration regarding date of holding of its general body meeting and conduct of elections when due;\n(g) list of amendments to the bye-laws of the co-operative society, if any, and any other information required by the Registrar in pursuance of any of the provisions of this Act.\n(a) the date of Annual General Meeting at which the returns to be filed with the Registrar were considered or approved;\n(b) the total number of members on the rolls of the cooperative society who were eligible to vote on the date of such Annual General Meeting;\n(c) the number of eligible members present at such Annual General Meeting;\n(d) list of names of Directors with addresses and terms of office;\n(e) name and address of the internal auditor appointed for internal audit of the society for the current financial years accounts;\n(f) any other relevant and special information required by the Registrar to enable him to decide whether the Cooperative Society has conducted its affairs in accordance with the cooperative principles mentioned in Schedule A and the provision of this Act and the Bye-laws.",
"footnote": "",
"is_definition": false,
"sort_order": 129
},
{
"number": "130",
"title": "130. Power to exempt societies from the operation of the Assam Money Lenders Act.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 130
},
{
"number": "131",
"title": "131. Power to make rules.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 131
},
{
"number": "132",
"title": "132. Repeal and Saving.",
"chapter": null,
"content": "Chapter-XIV\nSpecial Provisions Applicable to the Co-Operative Credit Societies",
"footnote": "",
"is_definition": false,
"sort_order": 132
},
{
"number": "133",
"title": "133. Overriding effect of Chapter XIV.",
"chapter": "Chapter XIV",
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 133
},
{
"number": "134",
"title": "134. Definitions.",
"chapter": null,
"content": "(a) \"Co-operative Credit Structure Society\" means a State Co- operative Bank and a Primary Agricultural Credit Society;\n(b) \"State Co-operative Bank\" means a Co-operative society engaged in the business of banking as defined under Section 5(b) of the Banking Regulation Act, 1949 (Act No. 10 of 1949 and Section 2(a) of the National Bank for Agriculture and Rural Development Act, 1981 Act No. 61 of 1 981);\n(c) \"Primary Agricultural Credit Society\" means a co-operative society as defined under clause (cciv) of Section 5 of Banking Regulation Act, 1949 (Act No. of 1949) and includes a Multi-purpose Co-operative Society;\n(d) \"Multi-purpose Co-operative Society\" means a Primary Co~ operative Society the object of which is to provide various services including services related to savings, credit, business, industry, consumer durables to its members;\n(e) \"Chartered Accountant\" means a member of the Institute of Chartered Accounts of India within the meaning of the Chartered Accountants Act, 1949 (Act No. 38 of 1949);\n(f) \"Reserve Bank\" means the Reserve Bank of India established under Section 3 of the Reserve Bank of India Act, 1934 (Act No 2 of 1934);\n(g) \"National Bank\" means the National Bank for Agriculture and Rural Development established under Section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (Act No. 61 of 1981).",
"footnote": "",
"is_definition": true,
"sort_order": 134
},
{
"number": "135",
"title": "135. Membership and voting right in Primary Agricultural Credit Society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 135
},
{
"number": "136",
"title": "136. Autonomy of the co-operative Credit Structure Society.",
"chapter": null,
"content": "(i) Interest rates on deposits and loans conformity with the guidelines issued by the Reserve Bank;\n(ii) Borrowing and investments;\n(iii) Loan policies and individual loan decisions;\n(iv) Personnel policy, staffing, recruitment, posting and remuneration to staff; and\n(v) Internal control systems, appointment of auditors and remuneration for the audit.",
"footnote": "",
"is_definition": false,
"sort_order": 136
},
{
"number": "137",
"title": "137. State Governments subscription to the equity share capital of Co-operative Credit Structure Society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 137
},
{
"number": "138",
"title": "138. Condition for member of the Board of the Co-operative Credit Structure Society.",
"chapter": null,
"content": "(i) is a person who represents a society other than a Primary Agricultural Credit Society on the Board of a State Co-operative Bank, if such society he represents has committed a default towards the payments of such bank for a period exceeding ninety days;\n(ii) is a person who committed a default towards the payments to a Primary Agricultural Credit Society or represents a Primary Agricultural Credit Society in the Board of a State Co-operative Bank, if such society he represents has committed a default towards the payments of such Bank for a period exceeding one year, unless the default is cleared;\n(iii) is a person, who represents a society whose Board is superseded or has ceased to be a member of the Board of his own society.",
"footnote": "",
"is_definition": false,
"sort_order": 138
},
{
"number": "139",
"title": "139. Conditions for supersession of the Board of State Co-operative Bank.",
"chapter": null,
"content": "(i) that a society incurs losses for three consecutive years; or\n(ii) that serious financial irregularities or frauds have been identified; or\n(ii) that there are judicial directives to this effect; or\n(iv) there is a perpetual lack of quorum.",
"footnote": "",
"is_definition": false,
"sort_order": 139
},
{
"number": "140",
"title": "140. Election to the co-operative Credit Structure Society.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 140
},
{
"number": "141",
"title": "141. Registration of bye-laws or amendments with the Registrar.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 141
},
{
"number": "142",
"title": "142. Registrar to prescribe prudential norms etc.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 142
},
{
"number": "143",
"title": "143. Criteria for appointment and removal of Chief Executive Officer and the members.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 143
},
{
"number": "144",
"title": "144. Professional to have knowledge and experience as stipulated by the Reserve Bank.",
"chapter": null,
"content": "(i) the limit of the number of members of the Board under this Act or rules framed there under or its bye-laws;\n(ii) whether such professional is a member of the society or not.",
"footnote": "",
"is_definition": false,
"sort_order": 144
},
{
"number": "145",
"title": "145. Audit.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 145
},
{
"number": "146",
"title": "146. Registrar's obligations.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 146
},
{
"number": "147",
"title": "147. Prohibition to use the nomenclature as Bank.",
"chapter": null,
"content": "",
"footnote": "",
"is_definition": false,
"sort_order": 147
},
{
"number": "148",
"title": "148. Prior approval of Reserve Bank in case of exemption of this Chapter.",
"chapter": null,
"content": "Schedule - A\n(See Section 4(1), 25)\nCooperative Principles\nCooperative Principles\n1st Principle :\nVoluntary and open Membership.\nCooperative societies are voluntary\n\t\t\t\torganisations, open to all persons able to use their service and\n\t\t\t\twilling to accept the responsibilities of membership, without\n\t\t\t\tgender, social, racial, political or religious discrimination.\n2nd Principle:\nDemocratic Member Control.\nCooperative societies are democratic\n\t\t\t\torganisation controlled by their members, who actively\n\t\t\t\tparticipate in setting their policies and making decisions. Men\n\t\t\t\tand women serving as elected representatives are accountable to\n\t\t\t\tthe members. In primary co-operative members have equal voting\n\t\t\t\trights (one member, one vote) and cooperative society at other\n\t\t\t\tlevels are also organised in a democratic manner\n3rd Principle :\nMember Economic Participation.\nMembers contribute equitably to and\n\t\t\t\tdemo-cratically control, the capital of their cooperative\n\t\t\t\tsocieties. At least part of that capital is usually the\n\t\t\t\tcommon-property of the cooperative. Members usually receive\n\t\t\t\tlimited compensation, if any, on capital subscribed as a\n\t\t\t\tcondition of membership. Members allocate surpluses for any or\n\t\t\t\tall of the following purposes : developing their co-operative\n\t\t\t\tsocieties, possibly by setting up reserves, part of which at\n\t\t\t\tleast would be invisible, benefiting members in proportion to\n\t\t\t\ttheir transaction with the cooperative society, and supporting\n\t\t\t\tother activities approved by the members.\n4th Principle :\nAutonomy and Independence. Cooperative societies\n\t\t\t\tare autonomous, self-help organizations controlled by their\n\t\t\t\tmembers. If they enter into agreements with other organisations,\n\t\t\t\tincluding Governments, or raise capital from external sources,\n\t\t\t\tthey do so on terms that ensure democratic control by their\n\t\t\t\tmembers and maintain their co-operative autonomy.\n5th Principle :\nEducation, Training and Information.\nCo-operative societies provide education and\n\t\t\t\ttraining for their members, elected representatives, managers,\n\t\t\t\tand employees so they can contribute effectively to the\n\t\t\t\tdevelopment of their co-operative societies. They inform the\n\t\t\t\tgeneral public - particularly young people and opinion leaders -\n\t\t\t\tabout the nature and benefits of co- operation.\n6th Principle:\nCo-operation among Co-operatives Societies.\nCo-operative societies serve their members most\n\t\t\t\teffectively and strengthen the co-operative movement by working\n\t\t\t\ttogether through local, national, regional and international\n\t\t\t\tstructures.\n7th Principle:\nConcern for Community.\nCo-operative societies work for the sustainable\n\t\t\t\tdevelopment of their community through policies approved by their\n\t\t\t\tmembers.\n8th Principle :\nProfessional Management.\nCo-operative Societies are managed in a\n\t\t\t\tprofessional manner in running their affairs\nSchedule - B\n(See Section 9)\nSubject matter for specific consideration when framing Bye-laws.\nSubject matter for specific consideration when framing Bye-laws.",
"footnote": "",
"is_definition": false,
"sort_order": 148
},
{
"number": "1",
"title": "1. Identity of the cooperative society:",
"chapter": null,
"content": "(a) the name of the cooperative;\n(b) the village/town/city where the Head Office of the Cooperative society is to be located;\n(c) the custody and use of the common seal;\n(d) the area of operation from where the membership is to be draw.",
"footnote": "",
"is_definition": false,
"sort_order": 149
},
{
"number": "2",
"title": "2. Aim and services:",
"chapter": null,
"content": "(a) the aim of the cooperative society explicitly stated as a common need of the members which the cooperative society aims at fulfilling;\n(b) key service and support services to members to fulfill the common need stated in the aim;\n(c) the conditions under which-services may be provided to non-membership.",
"footnote": "",
"is_definition": false,
"sort_order": 150
},
{
"number": "3",
"title": "3. Membership :",
"chapter": null,
"content": "(a) eligibility, ineligibility for obtaining membership;\n(b) eligibility, ineligibility for continuing membership;\n(c) procedure for obtaining membership;\n(d) procedure for withdrawing membership;\n(e) procedure for termination of membership;\n(f) circumstances under which membership ceases;\n(g) procedure for cessation of membership.",
"footnote": "",
"is_definition": false,
"sort_order": 151
},
{
"number": "4",
"title": "4. Member rights and obligations :",
"chapter": null,
"content": "(a) the rights of members;\n(b) manner of fixation of minimum performance expected annually of each member vis-a-vis use of services, financial commitment, participation in meetings and adherence to bye-laws, in order to be eligible to exercise the rights of membership including the right to vote;\n(c) the consequences of performing below the minimum level fixed;\n(d) the consequences of default in payment of any sum due by a member.",
"footnote": "",
"is_definition": false,
"sort_order": 152
},
{
"number": "5",
"title": "5. General Body:",
"chapter": null,
"content": "(a) the role of the general body and of the delegate General body, if any, and subjects which must be dealt with by the general body, and by the representative general body, if any;\n(b) the manner and frequency of convening general meetings, the mode of communication of the intimation of these meetings and quorum required;\n(c) the minutes of proceedings of general meetings.",
"footnote": "",
"is_definition": false,
"sort_order": 153
},
{
"number": "6",
"title": "6. Board of Directors:",
"chapter": null,
"content": "(a) The size and composition of the Board of Directors;\n(b) Eligibility, ineligibility for becoming Director;\n(c) Eligibility, ineligibility for retaining Directorship;\n(d) The procedure for election including the appointment of election officer, removal of Directors, the election of the President, Vice4President, and representative and filling of casual vacancy;\n(e) The terms of office of the Directors;\n(f) The frequency of board meetings;\n(g) The manner of convening board meetings, and quorum;\n(h) The functions, responsibilities and powers of the-Board;\n(i) The minutes of proceedings of Board meetings;\n(j) The functions, responsibilities and powers of Directors.",
"footnote": "",
"is_definition": false,
"sort_order": 154
},
{
"number": "7",
"title": "7. Chief Executive and staff:",
"chapter": null,
"content": "(a) the person to sue or be sued on behalf of the cooperative society;\n(b) the manner of appointment and removal of Chief Executive;\n(c) the functions, responsibilities and powers of the Chief Executive.",
"footnote": "",
"is_definition": false,
"sort_order": 155
},
{
"number": "8",
"title": "8. Finance:",
"chapter": null,
"content": "(a) the financial year which the cooperative society wishes to adopt;\n(b) the manner of appointment of auditors and their duties;\n(c) the manner of appointment of internal auditors and their duties;\n(d) the nature and amount of equity capital, if any, of the cooperative society;\n(e) the maximum capital which a single member can hold;\n(f) the types and extent of funds to be raised;\n(g) the purposes for which the funds raised by the cooperative society may be applied;\n(h) the debt-equity ratio that the cooperative society wishes to maintain at all times, and the maximum external debt that a cooperative society wishes to permit itself at any point of time;\n(i) procedure for transfer of shares or interest by a member;\n(j) procedure for redemption of shares by the cooperative society;\n(k) procedure for transfer or payment of interest on death of member;\n(l) the nature and extent of the liability of the members for the debts contracted by the cooperative society;\n(m) the nature and extent of the liability of the Directors for the debts contracted by the cooperative society;\n(n) the manner of disposal of funds if under liquidation.",
"footnote": "",
"is_definition": false,
"sort_order": 156
},
{
"number": "9",
"title": "9. Secondary cooperative societies:",
"chapter": null,
"content": "(a) the rights, if any, which the cooperative society wishes to confer on any secondary cooperative society of which it is a member, and the circumstances under which these rights may be exercised by such secondary cooperative society;\n(b) the procedure of appointing and changing representative to secondary cooperative society.",
"footnote": "",
"is_definition": false,
"sort_order": 157
},
{
"number": "10",
"title": "10. Other matters:",
"chapter": null,
"content": "(a) the manner of making or amending bye-laws;\n(b) the manner of constitution and functioning of arbitration council along with the qualification of the members for settlement of disputes;\n(c) the manner of dissolution of the cooperative society;\n(d) the language in which the affairs of the cooperative society are to be conducted;\n(e) refunding of loan, guarantee, share capital, grant or subsidy received from Government;\n(f) other matters which the provisions of this Act requires to be provided by bye-laws.\nSchedule - C\nForm (See Section 114)\nCase No. __ of 20..\nDistrict / sub-division\nOr\nSchedule\n...................................\n....................................\n....................................\nRegistrar of Cooperative Societies, Assam",
"footnote": "",
"is_definition": false,
"sort_order": 158
}
],
"metadata": {
"Act ID": "Last Updated 12th February, 2020 [ass332]",
"Act Number": "(Assam Act No. 4 of 2012)",
"Enactment Date": "",
"Act Year": "2007",
"Short Title": "Assam Co-Operative Societies Act, 2007",
"Type": "STATE",
"Location": "Assam"
},
"updated_at": "2026-09-29 21:55:18"
}