“(2) The Board shall consist of maximum twenty one members including office-bearers in accordance with the bye-laws. Chief Executive shall be an ex-officio member of the Board.
The Board shall co-opt such persons having experience in the field of banking, management, finance or specialization in any other field relating to the object and the activities under taken by the Cooperative Societies, as members of the board; provided that the number of such co-opted members shall not exceed two and this shall be in addition to the total members of the board;
Provided further that such co-opted members shall not have the right to vote in any election of the Co-operative Society in their capacity as such member or to be eligible to be elected as office bearers of the board;
Provided further also that the functional directors of a Co-operative Society shall also be the members of the board and such members shall be excluded for the purpose of counting the total number of directors;
Provided that at least 50 percent seats of managing board shall be reserved for the women members, out of which two seats shall be reserved for the scheduled castes or Scheduled Tribes women in the board of every Co-operative Society consisting of individuals as members and having members from such class or category of persons.
The seats so reserved shall be filled up from amongst the members of scheduled castes or scheduled tribes women members either by election or/ and by co-option.”