(1) No members of a society in Co-operative Credit Structure shall be eligible to be elected as member or other office bearer in the Committee if he is in default for a period of 12 months in payment of dues to the Society.
(2) No person elected as member or other office bearer in the Committee of a society in Co-operative Credit Structure shall be allowed to act as such if he is in default for a period exceeding 12 months in payment of dues to the society unless the amount in default with due interest is paid to the Society.
(3) No member or office bearer of Large Sized Multipurpose Cooperative Societies shall be eligible to be elected as member or office bearer in the Committee of the State Co operative Bank or can be permitted to hold such post if the society is in default in payment of dues to the State Co-operative bank for more than one year unless amount in default with due interest is paid to be State Co-operative Bank.
(4) No member of a non-credit society who is member in the Committee of the State Co operative Bank shall be allowed to act as such if the society commits default for a period exceeding ninety days in payment of dues to the Bank.
(5) No member of the Committee of Large Sized Multipurpose Cooperative Societies superseded under section 143 shall be eligible to contest election for its membership for period of three years from the date of supersession.
142. If members with professional background as stipulated by the Reserve Bank are not elected in required number in the Committee of the State Co-operative Bank to the extent of shortfall, such vacancies shall be filled by Co-option of such persons in the Committee and such co-opted members shall have full voting rights.
Powers of the committee Borrowing and Investment Oisqualificati1 n of mernbei and otr« office bearer Co-option~ professionCi in committ.