Multi State Cooperative Societies In Delhi

Duty of Governing Body Members of Multi-State:-

As far as the interim management committee list is concerned who is accountable for the management and handling of the society, the society may want to a minimum of 7 members and this list can go upto 21 members. After the 97th Constitutional Modification Act 2011 from February 2013, it is obligatory to keep 2 women and 1 extra member who belongs to Scheduled Caste or to Scheduled People in the primary governing body list. Till today, there are 900-950 Multi-State Cooperative Societies out of which maximum are credit. The governing body members participate in annual general body meetings, special basic body conferences, resolutions, notification, quorums and so on. 

 Just for example in a credit cooperative society, if the society wants to make any scheme like gold loan, car loan, fixed deposit loan, double deposit strategy, triple deposit strategy or any special scheme, the society has to offer a prior 15 days discover to all its members by speed post, paper publication etc. After 15 days, the general body meeting is carried out. If the quorum is one-fifth of the total members present and voting during the resolution, the conference can only take place. The signatures of the governing body members as well as average members present and voting are taken in the minutes book and preserved for future records. The unique general body conference can be conducted by giving a notice of at least 7 days. Society needs to carry out a minimum of 4 general body meetings in every monetary year. In every financial year, the society may want to employ a chartered accounting professional in a general body conference by passing a resolution. This CA looks after the accounts of the society and submits the balance sheets and tax return. The societies accept Credit, Housing and Multi-Function can collect cash from its members on the basis of shared allotment and advance. They can provide dividends to their members on shares and commissions in advance. As per the regulations of the MSCS Act 2002, an individual already being a member of a society can not be a member of a multi-state cooperative society of the exact same type.