| SECTIONS | Multi-State Co-operative Societies Act, 2002 |
| | |
| | Preamble |
| | |
| | CHAPTER I: PRELIMINARY |
| 1. | Short title, extent and commencement |
| 2. | Application |
| 3. | Definitions |
| | |
| | CHAPTER II: CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES |
| 4. | Central Registrar |
| 5. | Multi-State co-operative societies which may be registered |
| 6. | Application for registration |
| 7. | Commanding officer of persons subject to air force law under clause (d) of section 2 |
| 8. | Registration certificate |
| 9. | Multi-State co-operative society to be body corporate |
| 10. | Bye-laws of multi-State co-operative societies |
| 11. | Amendment of bye-laws of a multi-State co-operative society |
| 12. | When amendment of bye-laws comes into force |
| 13. | Change of name |
| 14. | Change of address |
| 15. | Publication of name by multi-State co-operative society |
| 16. | Liability |
| 17. | Amalgamation or transfer of assets and liabilities, or division of multi-State co-operative societies |
| 18. | Central Registrar to prepare scheme of amalgamation or reorganization of a co-operative bank in certain cases |
| 19. | Promotion of subsidiary institution |
| 20. | Liability of a co-operative bank to Deposit Insurance and Credit Guarantee Corporation |
| 21. | Cancellation of registration certificate of multi-State co-operative societies in certain cases |
| 22. | Conversion of a co-operative society into a multi-State co-operative society |
| | |
| | CHAPTER III: REGISTRATION AND FUNCTIONS OF FEDERAL CO-OPERATIVES |
| 23. | Registration of federal co-operative |
| 24. | Functions of federal co-operative |
| | |
| | CHAPTER IV: MEMBERS OF MULTI-STATE CO-OPERATIVE SOCIETIES AND THEIR DUTIES, RIGHTS AND LIABILITIES |
| 25. | Persons who may become members |
| 26. | Nominal or associate member of society |
| 27. | Educational course for members |
| 28. | Members not to exercise rights till due payment made |
| 29. | Disqualification for member of a multi-State co-operative society |
| 30. | Expulsion of members |
| 31. | Vote of members |
| 32. | Manner of exercising vote |
| 33. | Restriction on holding of shares |
| 34. | Restriction on transfer of shares or interest |
| 35. | Redemption of shares |
| 36. | Transfer of interest on death of members |
| 37. | Liabilities of past member and estate of deceased member |
| | |
| | CHAPTER V: DIRECTION AND MANAGEMENT OF MULTI-STATE CO-OPERATIVE SOCIETIES |
| 38. | Constitution, powers and functions of general body |
| 39. | Annual general meeting of general body |
| 40. | Special general meeting of general body |
| 41. | Board of directors |
| 42. | Association of employees in management decision making process |
| 43. | Disqualifications for being a member of board |
| 44. | Prohibition to hold office of chairperson or president or vice-chairperson or vice-president in certain cases |
| 45. | Elections of members of board |
| 46. | Holding of office in co-operative society |
| 47. | Removal of elected members by general body |
| 48. | Nominee of Central Government or State Government on board |
| 49. | Powers and functions of board |
| 50. | Meeting of board |
| 51. | Chief Executive |
| 52. | Powers and functions of Chief Executive |
| 53. | Committees of board |
| 54. | Securing possession of records, etc |
| | |
| | CHAPTER VI: PRIVILEGES OF MULTI-STATE CO-OPERATIVE SOCIETIES |
| 55. | Charge and set-off in respect of share or contribution or interest of members |
| 56. | Share or contribution or interest not liable to attachment |
| 57. | Register of members |
| 58. | Admissibility of copy of entry as evidence |
| 59. | Exemption from compulsory registration of instruments |
| 60. | Deduction from salary to meet multi-State co-operative society's claim in certain cases |
| 61. | Government aid to multi-State co-operative societies |
| | |
| | CHAPTER VII: PROPERTIES AND FUNDS OF MULTI-STATE CO-OPERATIVE SOCIETIES |
| 62. | Funds not to be divided by way of profits |
| 63. | Disposal of net profits |
| 64. | Investment of funds |
| 65. | Restriction on contribution |
| 66. | Restriction on loans |
| 67. | Restriction on borrowing |
| 68. | Restriction on other transactions with non-members |
| 69. | Contributory provident fund |
| | |
| | CHAPTER VIII: AUDIT, INQUIRY, INSPECTION AND SURCHARGE |
| 70. | Appointment and remuneration of auditors |
| 71. | Provision as to resolutions for appointing or removing auditors |
| 72. | Qualifications and disqualifications of auditors |
| 73. | Powers and duties of auditors |
| 74. | Signature of audit report, etc. |
| 75. | Reading and inspection of auditor's report |
| 76. | Right of auditor to attend general meeting |
| 77. | Power of Central Government to direct special audit in certain cases |
| 78. | Inquiry by Central Registrar |
| 79. | Inspection of multi-State co-operative societies |
| 80. | Inspection of books of indebted multi-State co-operative societies |
| 81. | Costs of inquiry and inspection |
| 82. | Recovery of costs |
| 83. | Repayment, etc. |
| | |
| | CHAPTER IX: SETTLEMENT OF DISPUTES |
| 84. | Reference of disputes |
| 85. | Limitation |
| | |
| | CHAPTER XL WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY |
| 86. | Winding up of multi-State co-operative societies |
| 87. | Winding up of co-operative bank at the direction of Reserve Bank |
| 88. | Reimbursement to the Deposit Insurance Corporation by liquidator |
| 89. | Liquidator |
| 90. | Powers of liquidator |
| 91. | Disposal of surplus assets |
| 92. | Priority of contributions assessed by liquidator |
| 93. | Power of Central Registrar to cancel registration of a multi-State co-operative society |
| | |
| | CHAPTER XI: EXECUTION OF DECREES, ORDERS AND DECISIONS |
| 94. | Execution of decisions, etc. |
| 95. | Execution of orders of liquidator |
| 96. | Attachment before award |
| 97. | Central Registrar or arbitrator or person authorized to be civil court for certain purposes |
| 98. | Recovery of sums due to Government |
| | |
| | CHAPTER XII: APPEALS AND REVIEW |
| 99. | Appeals |
| 100. | No appeal in certain cases |
| 101. | Review |
| 102. | Interlocutory orders |
| | |
| | CHAPTER XIII: SOCIETIES WHICH BECOME MULTI-STATE CO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES |
| 103. | Co-operative societies functioning immediately before reorganization of States |
| | |
| | CHAPTER XIV: OFFENCES AND PENALTIES |
| 104. | Offences and penalties |
| 105. | Cognizance of offences |
| | |
| | CHAPTER XV: MISCELLANEOUS |
| 106. | Copies of bye-laws, etc., to be open to inspection |
| 107. | Place of keeping and inspection of, registers and returns |
| 108. | Inspection of books of account, etc., of multi-State co-operative society |
| 109. | Annual accounts and balance-sheet |
| 110. | Minutes of proceedings of general meetings and board and other meetings |
| 111. | Minutes to be evidence |
| 112. | Presumptions to be drawn where minutes duly drawn and signed |
| 113. | Inspection of minutes book of general meetings |
| 114. | Liquidator to be public servant |
| 115. | Notice necessary in suits |
| 116. | Power to amend Second Schedule |
| 117. | Bar of jurisdiction of courts |
| 118. | Indemnity |
| 119. | Opening of branches |
| 120. | Filling of returns |
| 121. | Certain Acts not to apply |
| 122. | Central Government's power to give directions to specified multi-State co-operative societies in public interest |
| 123. | Supersession of board of specified multi-State co-operative society |
| 124. | Power to make rules |
| 125. | Power to remove difficulties |
| 126. | Repeal and saving |
