Section 49 - Powers and functions of board. - Multi-State Co-Operative Societies Act, 2002

Powers and functions of board. 49. (1) The board may exercise all such powers as may be necessary or expedient for the purpose of carrying out its functions under this Act. (2) Without prejudice to the generality of the foregoing powers, such powers shall include the power ( a ) to admit members; 1 [ (aa) to elect the Chairperson and Vice-Chairperson or President and Vice-President of the multi-State co-operative society from amongst the elected members of the board in accordance with the directions of the Authority: Provided that the certificate of election shall be issued by the Chief Executive of the multi-State co-operative society after conclusion of resolution by the board; ] ( b ) to interpret the organisational objectives and set up specific goals to be achieved towards these objectives; ( c ) to make periodic appraisal of operations; ( d ) to appoint and remove a Chief Executive and such other employees of the society as are not required to be appointed by the Chief Executive; ( e ) to make provisions for regulating the appointment of employees of the multi State co operative society and the scales of pay, allowances and other conditions of service of, including disciplinary action against such employees; 2 [ Provided that the recruitment of such employees shall be subject to such procedure as may be prescribed. ] ( f ) to place the annual report, annual financial statements, annual plan and budget for the approval of the general body; ( g ) to consider audit and compliance report and place the same before the general body; ( h ) to acquire or dispose of immovable property; ( i ) to review membership in other co operatives; ( j ) to approve annual and supplementary budget; ( k ) to raise funds; ( l ) to sanction loans to the members; and ( m ) to take such other measures or to do such other acts as may be prescribed or required under this Act or the bye laws or as may be delegated by the general body. *************** NOTES:- 1. Inserted vide THE MULTI-STATE CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2023 dated 03-08-2023 2. Inserted vide THE MULTI-STATE CO-OPERATIVE SOCIETIES (AMENDMENT) ACT, 2023 dated 03-08-2023