(1) Subject to the rules relating to voting by delegates, no member Votes of of a co-operative society shall have more than one vote in any matter members.
that is put to vote or be permitted to vote by proxy:
Provided that in the case of an equality of votes, the Chairman of the meeting shall have a second or casting vote:
Provided further that if any member of a co-operative housing society or a co-operative consumers' society is unable to attend any of its meetings, such member may in writing authorise his wife or husband, as the case may be, to vote at such meeting on production of the authority.
(2) Where two persons are joint members of a co-operative society, any one of them may attend a meeting of the co-operative society and shall have the right to vote at such meeting.
(3) A co-operative society which is a member of any other cooperative society (hereinafter referred to as the latter co-operative society) may in writing authorise one of its members, not otherwise disqualified for being so authorised under this Act or the rules or the by-laws, to vote at any meeting of the latter co-operative society.
72. No member of a co-operative society shall exercise his right as Members such member till he has made such payments to the co-operative society not to exercise in respect of his membership or has acquired such interest in the co- rights till operative society as may be provided by rules or by-laws. payment duly made.
73. A loan granted by a co-operative society to a member thereof Utilisation shall be utilised by such member for the purpose for which it was granted. If the co-operative society is of opinion that the loan has not been utilised for the purpose for which it was granted, it may direct such member in the prescribed manner to refund the entire amount of the loan, and the amount shall be refundable forthwith.
74. Notwithstanding anything contained in any law for the time Share or being in force but subject to the provisions of section 57, the share or interest not liable to interest of a member in the capital of a co-operative society or in the attachment.
provident fund established under section 66 shall not be liable to attachment or sale under any decree or order of a court in respect of any of loans.
353 The West Bengal Co-operative Societies Act, 1983.
[West Ben. Act (Chapter Val.—Eligibility for membership and privileges, liabilities and obligations of members.—Sections 75-77.)
Liability of members.
Liability of past member or estate of deceased member.
Restrictions on interest of members of co-operative society with limited liability and share capital.
debt or liability incurred by such member, and neither the Official Assignee under the Presidency-towns Insolvency Act, 1909 nor the 3 of 1909.
receiver under the Provincial Insolvency Act 1920 shall be entitled to, 5 of 1920.
or have any claim on, such share or interest.
75. The members of a co-operative society shall, upon the winding of the co-operative society, be jointly and severally liable to contribute towards any deficiency in the assets of the co-operative society,—
(a) if the co-operative society is a co-operative society with unlimited liability, without limit; and
(b) if the co-operative society is a co-operative society with limited liability, subject to such limitation as may be provided in the by-laws:
Provided that where any shares of a co-operative society are purchased by the State Government or by any other co-operative society, the liability in respect of such shares shall, upon the winding up of the cooperative society, be limited to the amount paid in respect of such shares.
76. The liability of a past member or the estate of a deceased member of a co-operative society for debts of the co-operative society as they existed on the date of ceasing to be a member of the co-operative society or on the date of death of the member, as the case may be, shall continue for a period of two years from that date:
Provided that where a co-operative society is directed to be wound up under section 99 within the period of two years as aforesaid, such liability shall continue until the proceedings for winding up of the cooperative society are completed by the liquidator.
77. Where the liability of a member of a co-operative society is limited by shares, no member other than the State Government or another co-operative society shall—
(a) hold more than such portion of the share capital of the co-operative society as may, subject to a maximum of one-fifth, be prescribed; or
(b) have or claim any interest in the form of dividend, profit or return with respect to the shares of the co-operative society exceeding five thousand rupees:
354 The West Bengal Co-operative Societies Act, 1983.
XLV of 1983.]
(Chapter VIII—Eligibility for membership and privileges, liabilities and obligations of members.—Sections 78-80.)
Provided that the State Government may, by notification, raise in respect of any co-operative society or any class of co-operative societies and to such extent as may be specified in the notification the maximum limit of share capital referred to in clause (a) or the maximum limit of interest referred to in clause (b).