The Maharashtra Co-operative Societies Act, 1960
State Act of Maharashtra · Act 24 of 1961188 provisions
The enactment
| Long title | An Act to consolidate and amend the law relating to co-operative societies in the State of Maharashtra. |
|---|---|
| Type | Act |
| Citation | Act 24 of 1961 |
| Year | 1961 |
| Jurisdiction | State of Maharashtra |
| Ministry | Govt of Maharashtra |
| Status | In force as published by the source |
| Provisions published | 188 |
| Subjects | agriculture |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title, extent and commencement
- Section 2 Definitions
- Section 3 Registrar 7[and his subordinates
- Section 3A Temporary vacancies
- Section 4 Societies which may be registered
- Section 5 Registration with limited or unlimited liability
- Section 6 Conditions of registration
- Section 7 Power to exempt societies 3[or class of societies] from conditions as to registration
- Section 8 Application for registration
- Section 9 Registration
- Section 10 Evidence of registration
- Section 11 Power of Registrar to decide certain questions
- Section 12 Classification of societies
- Section 13 Amendment of by-laws of society
- Section 14 Power to direct amendment of by-laws
- Section 15 Change of name
- Section 16 Change of liability
- Section 17 Amalgamation, transfer, division or conversion of societies
- Section 18A Amalgamation of Co-operative banks
- Section 18C Reorganisation of societies on account of alteration of limits of local areas in which they operate
- Section 19 Reconstruction of societies
- Section 20 Partnership of societies
- Section 20A Collaboration by societies
- Section 21 Cancellation of registration
- Section 21A De-registration of societies
- Section 22 Person who may become member
- Section 23 Open membership
- Section 24A Co-operative education and training to members, etc
- Section 25 Cessation of membership
- Section 26 No rights of membership to be exercised till due payments are made
- Section 27 Voting powers of members
- Section 28 Restrictions on holding of shares
- Section 29 Restrictions on transfer or charge of share or interest
- Section 30 Transfer of interest on death of member
- Section 31 Share or interest not liable to attachment
- Section 32 Rights of members to see books, etc
- Section 32A Certain societies to give pass books to members and entries in such book evidence of amount due
- Section 33 Liability of past member and estate of deceased member
- Section 34 Insolvency of members
- Section 35 Expulsion of members
- Section 36 Societies to be bodies corporate
- Section 37 Address of societies
- Section 38 Register of members
- Section 39 Copy of Act, etc., to be open to inspection
- Section 40 Admissibility of copy of entry as evidence
- Section 41 Exemption from compulsory registration of instruments relating to shares and debentures of society
- Section 42 Power to exempt from taxation 1[; power to refund
- Section 43 Restrictions on borrowings
- Section 44 Regulation of loan making policy
- Section 45 Restrictions on other transactions with non-members
- Section 46 Charge and set-off in respect of share or interest of member
- Section 47 Prior claim of society
- Section 48 Charge on immovable property of members borrowing from certain societies
- Section 48A Deductions from sale price of certain agricultural produce to meet society’s dues
- Section 49 Deduction from salary to meet society’s claim in certain cases
- Section 50 Direct partnership of State Government in societies
- Section 51 Indirect partnership of State Government in societies
- Section 52 Principal State Partnership Fund
- Section 53 Subsidiary State Partnership Fund
- Section 54 Approval of State Government for purchase of shares
- Section 55 Liability to be limited in respect of certain shares
- Section 56 Restriction on amount of dividend
- Section 57 Indemnity of Apex and Central societies
- Section 58 Disposal of share capital and dividend, etc
- Section 59 Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central society
- Section 60 Principal or Subsidiary State Partnership Fund not to form part of assets
- Section 61 Agreement by State Government and Apex societies
- Section 62 Other forms of State aid to societies
- Section 63 Provisions of this Chapter to override other laws
- Section 64 Funds not to be divided
- Section 66 Reserve Fund
- Section 68 Contribution to education fund of the State federal society
- Section 69 Contribution to public purposes
- Section 69A Constitution of Co-operative District Cadre of Secretaries and establishment of Employment Fund for such Cadre
- Section 69B Constitution of District Level and State Level Committees
- Section 70 Investment of funds
- Section 71 Employees’ Provident Fund
- Section 71A Funds not to be utilised for certain proceedings filed or taken by or against officers in personal capacities
- Section 72 Final authority of society
- Section 72A Freedom of affiliation or disaffiliation with a federal structure of choice
- Section 73 Committee, its powers and functions
- Section 73A Disqualification for being designated Officer simultaneously of certain 7[categories of] societies 8[* *
- Section 73CB State Co-operative Election Authority
- Section 73CC Power of State Government to postpone election
- Section 73D Society’s nominee on other society not eligible to be designated officer, except in a federal society
- Section 74 Qualification and appointment of Manager, Secretary and other officers of societies and of Chief Executive Officer and financial Officer for certain societies
- Section 77 Acts of societies, etc., not to be invalidated by certain defects
- Section 78A Power of supersession of committee or removal of member thereof
- Section 79A Government’s powers] to give directions in the public interest, etc
- Section 79AA Registrar’s powers to give directions to frame regulations
- Section 80 Registrar’s power to seize records, etc
- Section 81 Audit
- Section 82 Rectification of defects in accounts
- Section 83 Inquiry by Registrar
- Section 84 Inspection of books of indebted society
- Section 85 Costs of inquiry and inspection
- Section 86 Recovery of costs
- Section 87 Registrar to bring defects disclosed in inquiry on inspection to notice of society
- Section 88 Power of Registrar to access damages against delinquent promoters, etc
- Section 89 Power to enforce attendance, etc
- Section 89A Power to inspect working of society
- Section 90 Constitution or recognition of federal authority to supervise working of societies
- Section 91 Disputes
- Section 91A Constitution of Co-operative Courts
- Section 92 Limitation
- Section 93 Transfer of disputes from one Co-operative Court to another, and suspension of proceedings in certain cases
- Section 94 Procedure for settlement of disputes and power of 2[* *] Co-operative Court
- Section 95 Attachment before award or order and interlocutory orders
- Section 96 Decision of Co-operative Court
- Section 97 Appeal against decision under section 96 and Order under section 95
- Section 98 Money how recovered
- Section 99 Private transfer of property made after issue of certificate void against society
- Section 100 Transfer of property which cannot be sold
- Section 101 Recovery of certain sums and arrears due to certain societies as arrears of land revenue.
- Section 102 Winding up
- Section 103 Appointment of Liquidator
- Section 104 Appeal against order of winding up
- Section 105 Powers of Liquidator
- Section 106 Effect of order of winding up
- Section 107 Bar of suit in winding up and dissolution matters
- Section 108 Audit of Liquidator’s accounts
- Section 109 Termination of liquidation proceedings
- Section 110 Disposal of surplus assets
- Section 110A Order for winding up, reconstruction, 2[suspension or] supersession of committee, etc., of insured co-operative bank, not to be made without sanction or requisition of Reserve Ban…
- Section 112 State and other 1[Co-operative Agriculture and Rural Multipurpose Development Banks.
- Section 112A District Co-operative Agriculture and Rural Multipurpose Development Bank], its constitution, term of office of delegates, casual vacancies, powers of such Committee, etc
- Section 112AA Election of delegate as member of 6[Co-operative Agriculture and Rural Multipurpose Development Bank] from City of Bombay District and Bombay Suburban District
- Section 112B General Body and Committee of 9[State Co-operative Agriculture and Rural Multipurpose Development Bank.
- Section 113 Appointment, powers and function of Trustee
- Section 114 Issue of debentures
- Section 115 Guarantee by State Government
- Section 116 Vesting of property in Trustee and Debenture holders’ charge on assets
- Section 117 Powers of 4[Co-operative Agriculture and Rural Multipurpose Development Bank] to advance loans and to hold lands
- Section 119 Order granting loan conclusive of certain matters
- Section 120 Priority of mortgage
- Section 121 Mortgages 2[and other instruments] executed in favour of 3[a Co-operative Agriculture and Rural Multipurpose Development Bank] to stand vested in 4[State Agriculture and Rural Mul…
- Section 122 Registration of Mortgage, lease, etc., executed in favour of 11[Co-operative Agriculture and Rural Multipurpose Development Bank
- Section 123 Mortgages 13[and other instruments] not to be questioned on insolvency of mortgagors 14[or executants.
- Section 125 Mortgages 19[and other instruments] executed by managers of joint Hindu families
- Section 126 Section 8 of Act XXXII of 1956 to apply to mortgages 6[and other instruments] to 7[Co-operative Agriculture and Rural Multipurpose Development Bank], subject to certain modificati…
- Section 127 Restrictions on lease
- Section 128 Co-operative Agriculture and Rural Multipurpose Development Bank] to receive money and give discharge
- Section 129 Powers of 10[Co-operative Agriculture and Rural Multipurpose Development Bank] where mortgaged or encumbered property is destroyed or security becomes insufficient
- Section 130 Rights of 13[Co-operative Agriculture and Rural Multipurpose Development Bank] to buy mortgaged property
- Section 131 Recovery of loans by 6[Co-operative Agriculture and Rural Multipurpose Development Bank
- Section 132 Power to distrain
- Section 133 Sale of mortgaged or encumbered property
- Section 133A Mortgaged or encumbered property of Tribal not to be sold to non-Tribal at public auction under section 133
- Section 134 Confirmation of sale
- Section 135 Disposal of sale proceeds
- Section 136 Certificate to purchase delivery of property and title of purchase
- Section 137 Recovery of loans on certificate by Registrar
- Section 138 Mode of recovery by Collector
- Section 139 Officers or members of family not to bid at auction sales
- Section 140 Section 40 of Bom. XXVIII of 1947 not to apply to alienation in favour of 2[Co-operative Agriculture and Rural Multipurpose Development Banks
- Section 141 Provision for Guarantee Funds to meet certain losses
- Section 142 Registrar’s power to permit any 8[society] 9[or class of societies] to function as 10[Co-operative Agriculture and Rural Multipurpose Development Bank.
- Section 143 Service of notice
- Section 143A Transfer of rights and liabilities of Government in respect of schemes sanctioned under Bom. XXVIII of 1942
- Section 144 Power to Committee of 7[State Co-operative Agriculture and Rural Multipurpose Development Bank] to supervise on 8[Co-operative Agriculture and Rural Development Bank] and make reg…
- Section 145 Prohibition of use of the word “Co-operative”
- Section 146 Offences
- Section 147 Punishments for offences under section 146
- Section 148 Cognizance of offences
- Section 148A Contempt of Co-operative Courts and of Cooperative Appellate Court
- Section 151 Co-operative Appellate Court] to have power of Civil Court
- Section 152 Appeals
- Section 152A Appeal against rejection of nomination paper at election
- Section 153 Extension of period of limitation by appellate authority in certain cases
- Section 154 Revisionary powers of State Government and Registrar
- Section 154A Constitution of State Co-operative Council, its functions, etc
- Section 154B Application and non-application of provisions of this Act to the housing societies
- Section 155 Recovery of sums due to Government
- Section 156 Registrar’s powers to recover certain sums by attachment and sale of property
- Section 157 Power to exempt societies from provisions of Act
- Section 158 Delegation of power of Registrar to 3[certain authorities and officer
- Section 159 Branches, etc., of societies outside the State
- Section 160 Handing over records and property to new Chairman on election
- Section 160A Members of State Legislature and certain local authorities not to be remunerated while holding certain offices in societies
- Section 160B Members of committees not entitled to travelling allowance, daily allowance, etc., at a rate higher than the maximum prescribed
- Section 161 Registrar and other officers to be public servants
- Section 162 Indemnity for acts done in good faith
- Section 163 Bar of Jurisdiction of Courts
- Section 164 Notice necessary in suits
- Section 165 Rules
- Section 166 Repeal, saving and Construction
- Section 167 Companies Act not to apply
- Section 168 Power to remove difficulty
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