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Home Acts & Rules Trust and Society Acts MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002 This

MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002

Section 1 : Short title, extent and commencement.
Section 2 : Application.
Section 3 : Definitions.
Section 4 : Central Registrar.
Section 5 : Multi‑State co‑operative societies which may be registered.
Section 6 : Application for registration.
Section 7 : Registration.
Section 8 : Registration certificate.
Section 9 : Multi‑State co‑operative society to be body corporate.
Section 10 : Bye‑laws of multi‑State co‑operative societies.
Section 11 : Amendment of bye‑laws of a multi‑State co‑operative society.
Section 12 : When amendment of bye‑laws comes into force.
Section 13 : Change of name.
Section 14 : Change of address.
Section 15 : Publication of name by multi‑State co‑operative society.
Section 16 : Liability.
Section 17 : Amalgamation or transfer of assets and liabilities, or division of multi-State co‑operative societies.
Section 18 : Central Registrar to prepare scheme of amalgamation or reorganisation of a co‑operative bank in certain cases.
Section 19 : Promotion of subsidiary institution.
Section 20 : Liability of a co‑operative bank to Deposit Insurance and Credit Guarantee Corporation.
Section 21 : Cancellation of registration certificate of multi‑State co‑operative societies in certain cases.
Section 22 : Conversion of a co‑operative society into a multi‑State co‑operative society.
Section 23 : Registration of federal co‑operative.
Section 24 : Functions of federal co‑operative.
Section 25 : Persons who may become members.
Section 26 : Nominal or associate member of society.
Section 27 : Educational course for members.
Section 28 : Members not to exercise rights till due payment made.
Section 29 : Disqualification for member of a multi‑State co‑operative society.
Section 30 : Expulsion of members.
Section 31 : Vote of members.
Section 32 : Manner of exercising vote.
Section 33 : Restriction on holding of shares.
Section 34 : Restriction on transfer of shares or interest.
Section 35 : Redemption of shares.
Section 36 : Transfer of interest on death of members.
Section 37 : Liabilities of past member and estate of deceased member.
Section 38 : Constitution, powers and functions of general body.
Section 39 : Annual general meeting of general body.
Section 40 : Special general meeting of general body.
Section 41 : Board of directors.
Section 42 : Association of employees in management decision making process.
Section 43 : Disqualifications for being a member of board.
Section 44 : Prohibition to hold office of chairperson or president or vice‑chairperson or vice‑president in certain cases.
Section 45 : Elections of members of board.
Section 46 : Holding of office in co‑operative society.
Section 47 : Removal of elected members by general body.
Section 48 : Nominee of Central Government or State Government on board.
Section 49 : Powers and functions of board.
Section 50 : Meeting of board.
Section 51 : Chief Executive.
Section 52 : Powers and functions of Chief Executive.
Section 53 : Committees of board.
Section 54 : Securing possession of records, etc.
Section 55 : Charge and set‑off in respect of share or contribution or interest of members.
Section 56 : Share or contribution or interest not liable to attachment.
Section 57 : Register of members.
Section 58 : Admissibility of copy of entry as evidence.
Section 59 : Exemption from compulsory registration of instruments.
Section 60 : Deduction from salary to meet multi‑State co‑operative society’s claim in certain cases.
Section 61 : Government aid to multi‑State co‑operative societies.
Section 62 : Funds not to be divided by way of profit.
Section 63 : Disposal of net profits.
Section 64 : Investment of funds.
Section 65 : Restriction on contribution.
Section 66 : Restriction on loans.
Section 67 : Restrictions on borrowing.
Section 68 : Restriction on other transactions with non‑members.
Section 69 : Contributory provident fund.
Section 70 : Appointment and remuneration of auditors.
Section 71 : Provision as to resolutions for appointing or removing auditors.
Section 72 : Qualifications and disqualifications of auditors.
Section 73 : Powers and duties of auditors.
Section 74 : Signature of audit report, etc.
Section 75 : Reading and inspection of auditor’s report.
Section 76 : Right of auditor to attend general meeting.
Section 77 : Power of Central Government to direct special audit in certain cases.
Section 78 : Inquiry by Central Registrar.
Section 79 : Inspection of multi‑State co‑operative societies.
Section 80 : Inspection of books of indebted multi‑State co‑operative societies
Section 81 : Costs of inquiry and inspection.
Section 82 : Recovery of costs.
Section 83 : Repayment, etc.
Section 84 : Reference of disputes.
Section 85 : Limitation.
Section 86 : Winding up of multi‑State co‑operative societies.
Section 87 : Winding up of co‑operative bank at the direction of Reserve Bank.
Section 88 : Reimbursement to the Deposit Insurance Corporation by liquidator.
Section 89 : Liquidator.
Section 90 : Powers of liquidator.
Section 91 : Disposal of surplus assets.
Section 92 : Priority of contributions assessed by liquidator.
Section 94 : Execution of decisions, etc.
Section 95 : Execution of orders of liquidators.
Section 96 : Attachment before award.
Section 97 : Central Registrar or arbitrator or person authorised to be civil court for certain purposes.
Section 98 : Recovery of sums due to Government.
Section 99 : Appeals.
Section 100 : No appeal in certain cases.
Section 101 : Review.
Section 102 : Interlocutory orders.
Section 103 : Co‑operative societies functioning immediately before reorganisation of States.
Section 104 : Offences and penalties.
Section 105 : Cognizance of offences.
Section 106 : Copies of bye‑laws, etc., to be open to inspection.
Section 107 : Place of keeping and inspection of registers and returns.
Section 108 : Inspection of books of account, etc., of multi‑State co‑operative society
Section 109 : Annual accounts and balance‑sheet.
Section 110 : Minutes of proceedings of general meetings and of board and other meetings.
Section 111 : Minutes to be evidence.
Section 112 : Presumptions to be drawn where minutes duly drawn and signed.
Section 113 : Inspection of minutes book of general meetings.
Section 114 : Liquidator to be public servant.
Section 115 : Notice necessary in suits.
Section 116 : Power to amend Second Schedule.
Section 117 : Bar of jurisdiction of courts.
Section 118 : Indemnity.
Section 119 : Opening of branches.
Section 120 : Filing of returns.
Section 121 : Certain Acts not to apply.
Section 122 : Central Government’s power to give directions to specified multi‑State co‑operative societies in public interest.
Section 123 : Supersession of board of specified multi‑State co‑operative society.
Section 124 : Power to make rules.
Section 125 : Power to remove difficulties.
Section 126 : Repeal and saving.
-FIRST SCHEDULE : CO‑OPERATIVE PRINCIPLES
-SECOND SCHEDULE : LIST OF NATIONAL CO‑OPERATIVE SOCIETIES
 
 
 
 
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