In such cases, the registration of that society stands canceled on the registration of the new societies and that society is deemed to have been dissolved and ceases to exist as a corporate body. R 790e in exercise of the powers conferred by section 124 of the multistate cooperative societies act, 2002 39 of 2002, the central government hereby make the following rules, namely. How to setup a multistate cooperative society ipleaders. The main object and functions of multistate cooperative society is to spread over to. Real estate cooperative society dairy firm cooperative society transport cooperative society and many more. The membership of a cooperative society is open to all those who have a common interest. Definitions chapter ii central registrar and registration of multi state cooperative societies 4.
Notwithstanding anything contained in any other law for the time being in force, if any dispute other than a dispute regarding disciplinary action taken by a multistate cooperative society against its paid employee or an industrial dispute as defined in clause k of section 2 of the industrial disputes act, 1947 14 of 1947 touching the constitution, management or business of a multi. Multi state cooperative societies act, 2002 since cooperative societies is a state subject, the cooperative societies formed under state acts have to restrict their activities to only one state. We are sending herewith four copies of the byelaws duly signed. Jai mahesh multi state vehicle services cooperative society ltd aip flat no. Every multistate cooperative society applying for registration under this act may make byelaws consistent with the provisions of this act and the rules made thereunder and model byelaws, if any, framed by the central. An act to consolidate and amend the law relating to cooperative societies in the state of maharashtra.
Section 10 provides for the important aspects which byelaws of multi state cooperative society may cover. The multi state cooperative societies rules, 2002 contents. The cooperative societies, with objects not confined to one state and serving the interests of members in more than one state for social and economic betterment of its members through selfhelp and mutual aid in accordance with the co. But a multistate cooperative society may make a loan to a depositor on the security of his deposit. Handbook on cooperative society non profit organisations. Section 84 in the multistate cooperative societies act, 2002. Byelaws every multistate cooperative society applying for registration under this act may make byelaws consistent with the provisions of this act and the rules made thereunder and model byelaws, if any, framed by the central registrar. Cooperative societies act financial services commission.
But a multi state cooperative society may make a loan to a depositor on the security of his deposit. Auditing audit of cooperative societies tutorialspoint. Form ii register of applications for registration of multistate cooperative societies received by the central registrar. Means a person duly admitted to a membership of the society in accordance with the byelaw of the society and cooperative societies act and rules as per the byelaw no. Bye laws the multistate cooperative societies rules, 2002. Provided that the multi state cooperative societies which have already been registered shall also comply with the provisions of this clause. The 2002 act makes special provision for registration and functions of federal cooperative society registration. Multi state co operative societies act 2002 complete act.
It is an association of persons who voluntarily pool their resources for utilizing them for the mutual welfare of members itself. In this act, unless the context otherwise requires. Amendment of the multistate cooperative societies act, 2002. In this act, except where the context otherwise requires. The kerala cooperative societies act, 1969 act 21 of 1969. A multi state cooperative society may receive deposits, raise loans and receive grants from external sources to such extent as specified in the byelaws of the society.
Multistate cooperative societies are required to be registered under multi state cooperative societies act, 2002. A mumber of a multi state cooperative society or a representative of defaulting member society shall not be eligible to seek election to any office in continue as a member of the board of such multi state cooperative society, if he or the society of which he is the representative commits default in the payment of annual subscription or other sums due to such multi state cooperative society. Multi state cooperative society to be body corporate 10. The bill amends the multi state cooperative societies act, 2002, which regulates multistate cooperative societies i. The model byelaws are simply a representative sample and a guide to frame byelaws of a multi state cooperative society. The 2002 act has already been passed but has not yet been made effective. Byelaws may either provide for all the following matters or any of them. Subject to the provisions of this act, a society which has as its object the promotion of the economic interests of its members in accordance with cooperative principles or a society established with the object of facilitating the operations of such a society, may be registered under this act.
An act to consolidate and amend the law relating to cooperative societies, with objects not. Multistate cooperative societies act, 1984 bare acts law. Restrictions on borrowing by multistate cooperative society. Amendment of byelaws of a multi state cooperative society 12. Means person empowered under the act or under the rules or. The multistate cooperative societies act, 2002 contents chapter i preliminary 1. Publication of name by multi state cooperative society 16. Model byelaws national level national cooperative union. While a cooperative society is treated under the incometax act, 1961, as an assessee for extending certain concessions in computing taxable income, the income of a cooperative society is not exempt in its entirety.
This act may be cited as the cooperative societies shorttitle. Cooperative society is formed for the promotion of thrift, selfhelp and mutual assistance of the. The multistate cooperative societies rules, 2002 new delhi, the 2nd december 2002 g. Annual filing of returns of multi state cooperative society. Act xvi of 20 received assent of governor of maharashtra on 820. These amendments are intended to enhance the public faith in the cooperatives and to ensure better accountability of the management towards its. The multistate cooperative societies act, 2002 contents. Cooperative year means the period from 1st of april to 31st march. Monies standing to the credit of any contributory provident fund established by a. The multistate cooperative societies act, 2002legislative. Any two or more multistate cooperative societies may, with the prior consultation of the central registrar and by a resolution passed by a majority of not less than twothirds of the members present and voting at a general meeting of each such society, amalgamate themselves and form a.
The union cabinet today approved the introduction of the multistate cooperative societies amendment bill, 2010 in the parliament. Credit cooperative society registration multistate. With objects of the society must be for serving the. Multistate cooperative societies act, 1984 and the registration of which has not been cancelled before such commencement. The main object and functions of multi state cooperative society is to spread over to. The multi state cooperative societies act, 2002 facilitates the incorporation of cooperative societies.
Multistate cooperative societies act bare acts law. This includes federal cooperative societies whose membership is available only to a cooperative society or a multistate cooperative society and 21. Where the state warehousing corporation, a cooperative society or a society registered under societies registration act of 1860 act no. Multistate cooperative societies registered under multi state cooperative societies act, 2002 are not banking companies under section 5c of the banking regulation act rallymark legal 1949. The byelaws must be consistent with the provisions of this act and the rules made thereunder. The bill amends the multi state cooperative societies act, 2002, which regulates multi state cooperative societies i.
Notwithstanding anything contained in any other law for the time being in force, if any dispute other than a dispute regarding disciplinary action taken by a multi state cooperative society against its paid employee or an industrial dispute as defined in clause k of section 2 of the industrial disputes act, 1947 14 of 1947 touching the constitution, management or business of a multi. Model byelaws of national level cooperative society federal cooperative multistate cooperative society. Each registered society is required to frame its own bylaws which have to be registered with the registrar of cooperative societies. This includes federal cooperative societies whose membership is available only to a cooperative society or a multi state cooperative society and 21. Marketing of produce through the cooperative society. This act may be called the maharashtra cooperative societies act, 1960. Hence, multi state cooperative societies act was passed in 1942. The similar position has been reiterated by honble supreme court in its interim order dated 27. Crystal consultancy has a team of well qualified professionals who understand your needs and will prepare your bye laws as per your requirements and specific objectives of. Publication of name by multistate cooperative society 16. Cooperative society act, 1950 national portal of india. Sep 16, 2010 amendment of the multistate cooperative societies act, 2002. Multi state cooperative society registration and regulation.
An act to consolidate and amend the law relating to cooperative societies with objects not confined to one state and serving the interest of members in more than one state. Partnership fund on winding up of an apex or a central society. A minimum of ten members are required to form a cooperative society. Defaulter means a member who commits a default us 29 dof multi state cooperative societies act 2002 and or has defaulted in payment of any kind of dues payable to the bank. Restrictions on borrowing by multi state cooperative society. In case of division of a multistate cooperative society into two or more multistate cooperative societies or two or more cooperative societies in accordance with the provisions of section 17. The multistate cooperative societies amendment bill, 2010 a bill to amend the multistate cooperative societies act, 2002. Principal state partnership fund and subsidiary state partnership fund not to form part of assets. Wh an act to amend the law relating to co operative societies. Following persons are authorised to sign the byelaws and also to make necessary alteration therein. Amendment of byelaws of a multistate cooperative society 12. The multistate cooperative societies act, 2002 facilitates the incorporation of cooperative societies.
An act to consolidate and amend the law relating to cooperative societies, with objects not confined to one state and serving the interests of members in more than one state, to facilitate the voluntary formation and democratic functioning of cooperatives as peoples institutions based on selfhelp and mutual aid and to enable them to promote. Be it enacted by parliament in the sixtyfirst year of the republic of india as follows. Every multi state cooperative society applying for registration under this act may make byelaws consistent with the provisions of this act and the rules made thereunder and model byelaws, if any, framed by the central. Provided that the multistate cooperative societies which have already been registered shall also comply with the provisions of this clause. Oct 29, 2009 multi state cooperative societies act, 2002 since cooperative societies is a state subject, the cooperative societies formed under state acts have to restrict their activities to only one state. Multistate cooperative society to be body corporate 10. Multi state cooperative society means a cooperative society registered or deemed to be registered under the multistate cooperative societies. Byelaws every multi state cooperative society applying for registration under this act may make byelaws consistent with the provisions of this act and the rules made thereunder and model byelaws, if any, framed by the central registrar. The kerala cooperative societies act, 1969 act 21 of. This act my be cited as the cooperative societies act and shall come into operation on such date as the minister may, by notice in the gazette, appoint. Multistate cooperative societies act, 2002 complete act bare act. Model byelaws of national level cooperative societyfederal. This act has been declared to be in force in the sonthal parganas by notification under s.
Multi state cooperative societies act 1984 complete act. Cooperative society means an institution register with indian cooperative societies act, 1912 or relevant acts of states. Crystal consultancy has a team of well qualified professionals who understand your needs and will prepare your bye laws as per your requirements and specific objectives of your multi state cooperative society. Whereas, with a view to providing for the orderly development of the cooperative movement in the state of maharashtra in accordance with the relevant directive principles of state policy. The cooperative societies act does not specify the maximum number of members for any cooperative society. Amendment of byelaws of a multistate cooperative society. A multistate cooperative society may receive deposits, raise loans and receive grants from external sources to such extent as specified in the byelaws of the society. Caricom member state means a member state of the caribbean community. In this act interpre bonus means a share of the profits of a registered society tation. Caricom member state means a member state of the caribbean. According to section 11 of the act, the amendment of the bylaws of a registered society shall not be valid until the same has been approved by the registrar of the cooperative societies. The mcs act 1960 cooperative housing society in mumbai. The multistate cooperative societies amendment bill, 2010.