31. Disqualification for membership of Administrative Council and Managing Body.

(a) is adjudged by a competent Court to be insolvent or of unsound mind;
(b) has been punished with imprisonment for an offence involving moral turpitude;
(c) is concerned or participate in the profits of any contract with the society;
(d) if a credit society has failed to pay in three consecutive years immediately preceding the election at least an amount equivalent to one year's Instalment fixed for the repayment of the loan.