(1) The Registrar may require a society to make bye-laws in respect of all or any of the following matters that is to say---
(a) The name of the society and address of the society and its branches;
(b) Area of operation;
(c) Objects of the society;
(d) The manner in which and the limit upto which the funds of the society may be raised, the maximum share capital which any member may hold and the purpose to which the funds will be made applicable;
(e) The terms and qualification for admission to membership;
(f) The privileges, rights, duties and liabilities of members including nominal and sympathizer member;
(g) The consequences of default in payment of any sum due by a member;
(h) Conditions regarding sale or disposal of produce of members wherever applicable;
(i) In case of credit societies----
(i) The maximum loan admissible to a member;
(ii) The maximum rate of interest on loans to members;
(iii) The conditions on which loans may be granted to members and penalties for misapplication of loans so advanced.
Rule 5* Sub Section (4) are inserted by TCS (Fourth Amendment) Act 2011.
Form of report under section 9(2).
Refusal of Registration.
Matters in respect of which Registrar may direct society to make bye-laws or society may make bye-laws.
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(iv) The procedure for granting extension of time for the repayment of loans and advances;
(v) The consequences of defaults in payment of any sum due;
(vi) The circumstances under which a loan may be recalled;
(j) In the case of non-credit societies, the mode of conducting business such as manufacture, sale, stock-taking and other like matters;
(k) In case of composite society, that is to say society having both credit and non-credit functions, matters referred to in clauses (i) and (j);
(l) The mode of holding meetings of the general body and of the committee;
(m) The procedure for expulsion of members;
(n) The manner of making, altering and abrogating bye-laws;
(o) The mode of appointment either by election or otherwise and removal of members of the committee and other officers, if any, their duties and power;
(p) The Chairman’s powers, duties and functions and his removal on his losing support of the majority;
(q) The method of recruitment, the conditions of service and the authority competent of fix, revise or regulate the scale of pay and allowances of salaries officers and servants of the society and the procedure to be followed in the disposal of disciplinary cases against them.
Provided that the State Cooperative Bank and a Primary Agricultural Credit Society for the purpose of this clause shall be governed by the guidelines, if any, issued by the National Bank.
(r) The mode of custody and investment of funds and mode of keeping the accounts and records;
(s) The disposal of net profits;
(t) The manner in which penalty should be levied on a member who is found to be guilty of breach of bye-laws;
(u) Appointment of a provisional committee, where necessary;
(v) The mode of appointment and removal of the committee and its power and duties;
(w) The mode of convening annual and special general meetings, issue of notices, and the business which may be transacted there-at;
(x) In the event of winding up of the society, the purpose for which surplus assets, if any, shall be utilised;
(y) The number of members to be elected in the committee, appointment of Returning Officer, and election of other bodies of the society;
Rule 8* Sub Section (1){q) are inserted by TCS (Fourth Amendment) Act 2011.
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(z) Any other matters incidental to the management of its business.
2) A society may make bye-laws for all or any of the following matters, that is to say.
(a) The circumstances under which withdrawal from membership may be permitted;
(b) The procedure to be followed in cases of withdrawal, ineligibility and death of members;
(c) The conditions, if any, under which the transfer of share or interest of a member may be permitted;
(d) The method of appropriating payments made by members from whom moneys are due;
(e) The authorization of an officer or officers to sign documents and to institute and defend suits and other legal proceedings on behalf of the society;
(f) The constitution and maintenance of various funds as required to be maintained under the provisions of the Act, rules and bye-laws;
(g) Constitution of representative body consisting of delegates of members of the society and the mode of election of such delegates to exercise the powers of the general body of members and to specify the powers which may be exercised by such smaller body.
9. When a society has been registered the bye-laws of the society as approved and registered by the Registrar shall be the bye-laws of the society.