(1) A co-operative housing society which owns land or building shall maintain
a corpus of building maintenance fund by collecting money from its members as
their contribution to the extent and in the manner as may be fixed annually by the
general body meeting.
(2) The building maintenance fund shall be utilised only for the purposes of
repairs and maintenance of the building and for carrying out such structural
additions and alterations to the building which are essential for the safety of the
building and to increase its life.
(3) The building maintenance fund of the co-operative housing society, when not
required by it for its immediate use, shall be invested with the apex or financing
bank.
(4) A corpus for replacement fund shall be created annually through a budget
provision duly approved by the general body of members of the society and shall
be utilized only for replacement of building in course of time.
Section 81 • THE DELHI CO-OPERATIVE SOCIETIES ACT, 2003
Section 81. Creation, maintenance and utilisation of building and replacement fund.
the-delhi-co-operative-societies-act-2003-sec-81.json
•
Section 81
{
"act_title": "THE DELHI CO-OPERATIVE SOCIETIES ACT, 2003",
"act_slug": "the-delhi-co-operative-societies-act-2003",
"section_label": "Section",
"section": {
"number": "81",
"title": "Section 81. Creation, maintenance and utilisation of building and replacement fund.",
"chapter": null,
"content": "(1) A co-operative housing society which owns land or building shall maintain \na corpus of building maintenance fund by collecting money from its members as \ntheir contribution to the extent and in the manner as may be fixed annually by the \ngeneral body meeting. \n(2) The building maintenance fund shall be utilised only for the purposes of \nrepairs and maintenance of the building and for carrying out such structural \n\nadditions and alterations to the building which are essential for the safety of the \nbuilding and to increase its life. \n(3) The building maintenance fund of the co-operative housing society, when not \nrequired by it for its immediate use, shall be invested with the apex or financing \nbank. \n(4) A corpus for replacement fund shall be created annually through a budget \nprovision duly approved by the general body of members of the society and shall \nbe utilized only for replacement of building in course of time.",
"footnote": "",
"is_definition": false,
"sort_order": 900
},
"prev_section": "80",
"next_section": "82"
}