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44. Chief Executive.- (1) There shall be Chief Executive, by whatever designation called, of every multi-State cooperative society, to be appointed by the board and he shall be a full-time employee of such multi-State cooperative society.
(2) The Chief Executive shall be member of the board and of the Executive Committee and such other committees or sub-committees as may be constituted under sub-section (1) of section 46.
(3) The functional directors in national cooperative societies shall also be members of the board.
(4) Where the Central Government has subscribed to the extent of more than one-half of the share capital of a national co-operative society, it shall be obligatory on such a society to seek prior approval of the Central Government to the appointment of Chief Executive and the functional directors.
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