Section 51: Without prejudice to the general provisions of the preceding bye-laws, the General Body of members shall have the following powers and duties
Bye Laws of SADBState Regulations of Punjab · 1961
i) Election of the members of the Board in accordance with the rules of election to be framed by the Registrar.
18 ii) consideration of the annual report, the audited statement of receipts and disbursement, balance sheet and profit and loss account;
iii) disposal of profits;
iv) fixation of the maximum borrowing limit of the State Bank consistent with these bye-laws subject to the approval of the Registrar;
v) amendment of bye-laws;
vi) removal of the elected member of the Board;
vii) transaction of any business with the permission of the Chairman of the General meeting.
52. No resolution of the General Body removing a member of the Board shall be valid unless it is carried by the vote of a majority of the members present at a general meeting.
53. All business discussed or decided at a meeting of General Body, Board of Directors and Sub-committee shall be recorded in the proceedings book which shall be signed by the Chairman of the meeting.
