(1) Every multi-State co-operative society may make its bye-laws consistent with the provisions of this Act and the rules made thereunder.
(2) In particular and without prejudice to the generality of the foregoing power, such bye-laws may provide for all or any of the following matters, namely:--
(a) the name, address and area of operation of the society;
(b) the objects of the society;
(c) the services to be provided to its members;
(d) the eligibility for obtaining membership;
(e) the procedure for obtaining membership;
(f) the conditions for continuing as member;
(g) the procedure for withdrawal of membership;
(h) the transfer of membership;
(i) the procedure for expulsion from membership;
(j) the rights and duties of the members;
(k) the nature and amount of capital of the society;
(l) the manner in which the maximum capital to which a single member can subscribe;
(m) the sources from which the funds may be raised by the multistate co-operative society;
(n) the purpose for which the funds may be applied;
(o) the manner of allocation or disbursement of net profits of the multi-State co-operative society;
(p) the constitution of various reserves;
(q) the manner of convening general meetings and quorum thereof other than those provided under this Act;
(r) the procedure for notice and manner of voting, in general and other meetings;
(s) the procedure for amending the bye-laws;
(t) the number of members of the board not exceeding twenty-one;
(u) the tenure, of directors, chairperson and other office bearers of the society, not exceeding five years;
(v) the procedure for removal of members of the board and for filling up of vacancies;
(w) the manner of convening board meetings, its quorum, number of meetings in a year and venue of such meetings;
(x) the frequency of board meetings;
(y) the powers and functions of the Chief Executive in addition to those provided under section 52;
(z) the manner of imposing the penalty;
(za) the appointment, rights and duties of auditors and procedure for conduct of audit;
(zb) the authorisation of officers to sign documents and to institute and defend suits and other legal proceedings on behalf of the society;
(zc) the terms on which a multi-State co-operative society may deal with persons other than members;
(zd) the terms on which a multi-State co-operative society may associate with other co-operative societies;
(ze) the terms on which a multi-State co-operative society may deal with organisation other than co-operative societies;
(zf) the rights, if any, which the multi-State co-operative society may confer on any other multiState co-operative society or federal co-operative and the circumstances under which such rights may be exercised by the federal co-operative;
(zg) the procedure and manner for transfer of shares and interest in the name of a nominee in case of death of a member;
(zh) the educational and training programmes to be conducted by the multi-State co-operative society;
(zi) the principal place and other places of business of multi-State co-operative society;
(zj) the minimum level of services, to be used by its members;
(zk) any other matter which may be prescribed.