(1) (a) Subject to the provisions of Section 26-A every application for admission to the membership of a co-operative society shall be made to the, secretary who shall place such application as soon as may be, before the authority competent under the bye-laws of the society to take decision on the question of admission to the membership of the society (hereinafter referred to as the 'competent authority').
Explanation. - For disposal of an application for admission as a nominal or associate member, an officer of the society may be authorised by the committee of management of the society to be the competent authority.
(b) The competent authority shall consider the application for admission to membership and take final decision either admitting or refusing to admit the applicant to the membership of the society. Such decision shall, except when it does not become possible for some unavoidable reasons, betaken-
(i) in the case of nominal or associate membership, within fifteen days of the receipt of the application in the society,and
(ii) in any other case, within thirty-five days of the receipt of the application in the society. The decision shall be communicated to the applicant within seven days of me date of the decision.
(c) If the decision on the application for admission to membership is not taken and communicated to the applicant within-
(i) thirty days of the receipt of application in the case of nominal or associate membership,and
(ii) sixty days of the receipt of application in the case of ordinary or sympathiser membership, the application shall be deemed to have been rejected.
(2) No person shall be admitted as a member of a co-operative society unless-
(i) he fulfils the qualifications for membership as laid down in the Act, rules and the bye-laws of the society;
(ii) he has applied for membership of the society in the manner laid down in the bye-laws of the society.
39. Where the State Warehousing Corporation, a co-operative society or a society registered under Societies Registration Act of 1860 (Act No. 21 of 1860), company or other body corporate registered or incorporated under any law for the time being inforce, applies for the membership of aco-operative society, the application for membership shall be made by such person or authority as may be competent to do so under the provisions of law or bye-laws governing such body.
Explanation. - The term "bye-law" shall also include the rules or Articles of Association or Memorandum of Association of the body concerned.
40. If two or more persons have jointly inherited the share or interest in the shares of a deceased member of a society, such person may be admitted to the ordinary membership of the society. As regards voting right in respect of the share or shares, such person shall by declaration nominate any one from amongst themselves to exercise the right of voting under Section 20, whereupon the society shall enter in the share certificate the name of such persons so as to head the name of the joint shareholders;
Explanation. - (i) Though the voting right shall be enjoyed only by the person so mentioned in the declaration and the share certificate, but all the liabilities shall be borne by all of them jointly and severally as provided under the Act, rules and the byelaws of the society.
(ii) This rule will apply only so long as the share or shares are held jointly.