(1) No member of any society shall have more than one vote in its affairs provided that, in the case of an equality of votes, the chairman shall have a casting vote.
(2) Where a share of a society is held jointly by more than one person, only the person whose name stands first in the Share Certificate, shall have the right to vote.
(3) A society, which has invested any part of its funds in the shares of another society, may appoint one of its members to vote on its behalf in the affairs of that other society, and accordingly such member shall have the right to vote on behalf of the first society.
(4) A company or any other body corporate constituted under any law for the time being in force which has invested any part of its funds in the shares of society may appoint any one of its directors to vote on its behalf in the affairs of such society; and accordingly such director or officer shall have the right to vote on behalf of the company or body corporate.
(5) Where a firm has invested any part of its funds in the shares of a society, any one of its partners shall be entitled to vote in the affairs of the society on behalf of the firm.
(6) The Government, a local authority or public trust which has invested any part of its funds in the shares of a society, may appoint any of its officers, members or trustees to such persons shall have the right to vote on behalf of the Government, local authority or the public trust as the case may be.
(7) In the case of a federal society, the voting rights of individual members thereof shall be such as may be regulated by the rules made under this Act and by the bye-laws of the society.
(8) No nominal, associate, or sympathizer member shall have the right to vote.
28. In any society, no member other than the Government or any other society, shall :-
(a) Hold more than such portion of the total share capital of the society (in no case exceeding one-fifth thereof) as may be prescribed, or No rights of membership to be exercised till due payments are made.
Voting powers of members.
Restrictions on holding of shares.
APCS ACT 1978 15
(b) Have or claim any interest in the shares of the society exceeding five thousand rupees :
Provided that the Government may, by notification in the Official Gazette specify in respect of any class of societies a higher or lower maximum than one fifth of the share capital or, as the case may be, a higher or lower amount than five thousand rupees.