In this Act, unless the context otherwise requires,—
(1) “agricultural marketing society” means a society—
(a) the object of which is the marketing of agricultural produce and the supply of implements and other requisites for agricultural production, and
(b) not less than three-fourths of the members of which are agriculturists, or societies formed by agriculturists;
3[(2) “apex society” means a society,—
(a) the area of operation of which extends to the whole of the State of Maharashtra,
(b) the main object of which is to promote the principal objects of the societies affiliated to it as members and to provide for the facilities and services to them, and
(c) which has been classified as an apex society by the Registrar;]
4[(2-A) “authorised person” means any person duly authorised by the Registrar to take action under the provisions of this Act;]
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(4) “bonus” means payment made in cash or kind out of the profits of a society to a member, or to a person who is not a member, on the basis of his contribution (including any contribution in the form of labour or service) to the business of the society, and in the case of a farming society, on the basis both of such contribution and also the value or income or, as the case may be, the area of the lands of the members brought together for joint cultivation as may be decided by the society 6[but does not include any sum paid or payable as bonus to any employee of the society under the Payment of Bonus Act, 1965 (21 of 1965);]
1 For Statement of Objects and Reasons of the L. A. Bill No. LVI of 1960, see Maharashtra Government Gazette, 1960, Extraordinary No. 46, Part V, dated the 3rd November 1960, pages 270-273; for Report of the Select Committee, see ibid., Part V, pages 432-517.
2 26th day of January 1962, vide G.N.C. and R.D.D. No. SCL. 1061/135-G, dated 24th January 1962.
3 Clause (2) was substituted by Mah. 20 of 1986, s. 2(a).
4 Clause (2-A) was inserted by Mah. 16 of 2013, s. 2(a).
5 Clause (3) was deleted by Mah. 20 of 1986, s. 2(b).
6 This portion was added by Mah. 27 of 1969, s. 2(a).
16 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
(5) “by-laws” means by-laws registered under this Act and for the time being in force and includes registered amendments of such by-laws;
1[(6) “Central Bank” means a co-operative bank, the objects of which include the creation of funds to be loaned to other societies; but does not include the urban co-operative bank;]
2[(7) “Committee” means the committee of management or board of directors 3[or the governing body or other directing body of a co-operative society, by whatever name called, in which the management of the affairs of a society is entrusted] under section 73;]
(8) “Company” means a company as defined in the 4Companies Act, 1956 (I of 1956) and includes a Banking Company and also any board, corporation or other corporate body, constituted or established by any Central, State or Provincial Act for the purpose of the development of any industry;
(9) “consumers’ society” means a society the object of which is—
(a) the procurement, production or processing, and distribution of goods to, or the performance of other services for, its members as also other customers, and
(b) the distribution among its members and customers, in the proportion prescribed by rules or by the by-laws of the society, of the profits accruing from such procurement, production or processing and distribution;
5[(10) “co-operative bank” means a society which is doing the business of banking as defined in clause (b) of sub-section (1) of section 5 of the Banking Companies Act, 1949 (10 of 1949) and includes any society which is functioning or is to function as 6[a Co-operative Agriculture and Rural Multipurpose Development Bank] under Chapter XI;]
7[(10-ai) “Co-operative Appellate Court” means the Maharashtra State Co-operative Appellate Court constituted under this Act;
(10-aii) “Co-operative Court” means a Court constituted under this Act to decide 8[disputes referred to it under any of the provisions of this Act];
9[(10-aii-1) “co-operative credit structure entity” means the primary agricultural credit co-operative society, the District Central Co-operative Bank or the State Co-operative Bank;]
10[(10-aiii) “co-operative year” means a year ending on the 11[31st day of March] or on such other day in regard to a particular society or class of societies 12[as may have been fixed by the Registrar, from time to time,] for balancing its or their accounts;]
13[(10-A) “crop protection society” means a society the object of which is protection of the crops, structures, machinery, agricultural implements and other equipment such as those used for pumping water on the land ;]
14[* * * * * * * *] 1 Clause (6) was substituted for the original by Mah. 20 of 1986, s. 2(c).
2 Clause (7) was substituted by Mah. 20 of 1986, s. 2(d).
3 These words were substituted for the words “or other directing body, by whatever name called, to which the management of the affairs of a society is entrusted” by Mah. 16 of 2013, s. 2(b).
4 Now see Companies Act, 2013 (18 of 2013).
5 Clause (10) was substituted by Mah. 33 of 1963, s. 2.
6 These words were substituted for the words “an Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 2.
7 Clauses (10-ai) and (10-aii) were inserted by Mah. 3 of 1974, s. 2(b).
8 These words were substituted for the words “disputes referred to it by the Registrar” by Mah. 18 of 1982, s. 2.
9 Clause (10-aii-1) was inserted by Mah. 11 of 2008, s. 2(a).
10 Clause (10-aiii) was inserted by Mah. 20 of 1986, s. 2(e).
11 These words were substituted for the words “30th day of June” by Mah. 13 of 1994, s. 2(a).
12 These words were substituted for the words “as may have been fixed, with the previous approval of the Registrar” by Mah.
13 of 1994, s. 2(b).
13 Clause (10-A) was inserted by Mah. 27 of 1969, s. 2(b).
14 Clause (10-B) was deleted by Mah. 16 of 2013, s. 2(c).
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 17
(11) “Dividend” means the amount paid, out of the profits of a society, to a member in proportion to the shares held by him;
1[(11A) “expert director” means a person having experience in the field of banking, management, co-operation and finance and includes a person having specialisation in any other field relating to the objects and activities undertaken by the concerned society;]
(12) “farming society” means a society in which, with the object of increasing agricultural production, employment and income and the better utilisation of resources, lands are brought together and jointly cultivated by all the members, such lands (a) being owned by or leased to the members (or some of them), or (b) coming in possession of the society in any other manner whatsoever;
(13) “federal society” means a society—
(a) not less than five members of which are themselves societies, and
(b) in which the voting rights are so regulated that the members which are societies have not less than four-fifths of the total number of votes in the general meeting of such society;
(14) “firm” means a firm registered under the Indian Partnership Act, 1932 (IX of 1932);
2[(14-A) “functional director” means a Managing Director or a Chief Executive Officer by whatever designation called, nominated by the Committee;]
(15) “general society” means a society not falling in any of the classes of societies defined by the other clauses of this section;
3[(16) “housing society” means a society, the object of which is to provide its members with open plots for housing, dwelling houses or flats; or if open plots, the dwelling houses or flats are already acquired, to provide its members common amenities and services;]
4[(16A) “lift irrigation society” means a society, the object of which is to provide water supply, by motive power or otherwise to its members, for irrigation and otherwise;]
(17) “Liquidator” means a person appointed as liquidator under this Act;
(18) “local authority” includes a school board and an agricultural produce market committee constituted by or under any law for the time being in force;
(19)(a) “member” means a person joining in an application for the registration of a co-operative society which is subsequently registered, or a person duly admitted to membership of a society after registration, and includes a nominal, 5[or associate] member 6[and any depositor or financial service user of primary agricultural co-operative credit society];
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(b) “associate member” means a member who holds jointly a share of a society with others, but whose name does not stand first in the share certificate;
(c) “nominal member” means a person admitted to membership as such after registration in accordance with the by-laws;
8[* * * * * * * *] 1 Clause (11A) was inserted by Mah. 16 of 2013, s. 2(d).
2 Clause (14-A) was substituted by Mah. 36 of 2016, s. 2.
3 Clause (16) was substituted by Mah. 20 of 1986, s. 2(f).
4 Clause (16A) was substituted by Mah. 3 of 1974, s. 2(c) 5 These words were substituted for the words “associate or sympathiser” by Mah. 16 of 2013, s. 2(f)(i).
6 These words were added by Mah. 11 of 2008, s. 2(c).
7 Sub-clause (a-1) was deleted by Mah. 28 of 2022, s. 2.
8 Sub-clause (d) was deleted by Mah. 16 of 2013, s. 2(f)(iii).
18 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV 1[(19A) “National Banks” means the National Bank for Agriculture and Rural Development (NABARD), constituted under the provisions of the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981);]
(20) “officer” means a person elected or appointed by a society to any office of such society according to its by-laws; and includes 2[any office bearer such as a chairperson, vice-chairperson, president, vice-president, managing director, manager, secretary, treasurer, member of the committee and any other person, by whatever name called,] elected or appointed under this Act, the rules or the by-laws, to give directions in regard to the business of such society;
3[(20-A) “Official Assignee” means a person or body of persons appointed by the Registrar under sub-section (2) of section 21A;]
(21) “prescribed” means prescribed by rules;
(22) “processing society” means a society the object of which is the processing of goods;
(23) “producers’ society” means a society the object of which is, the production and disposal of goods or the collective disposal of the labour of the members thereof;
(24) “Registrar” means a person appointed to be the Registrar of Co-operative Societies under this Act;
(25) “resource society” means a society the object of which is the obtaining for its members of credit, goods or services required by them;
(26) “rules” means rules made under this Act;
(27) “society” means a co-operative society registered, or deemed to be registered, under this Act 4[, which is an autonomous association of persons, united voluntarily to meet their common needs and aspirations through a jointly owned and democratically controlled enterprise and adhering to the co-operative principles and values;]
(28) “society with limited liability” means a society having the liability of its members limited by its by-laws;
(29) “society with unlimited liability” means a society, the members of which are, in the event of its being wound up, jointly and severally liable for and in respect of its obligation and to contribute to any deficiency in the assets of the society;
5[(29-A) “State Co-operative Election Authority” means an authority constituted by the State Government under section 73CB;]
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(31) “working capital” means funds at the disposal of a society inclusive of paid-up share capital, funds built out of profits, and money raised by borrowing and by other means.
CHAPTER II REGISTRATION