Co-operative Societies
| Intro | 97th CAA, 2011 – gave a constitution status and protection to co-operative societies.
1. Made if FRs under ( Article 19) 2. New DPSP ( Art 43-B) 3. Part IX-B in the Constitution which is entitled “The Co- operative Societies” (Articles 243-ZH to 243-ZT) |
| Composition | · Max – 21 directors – [1 SC/ST + Reservation 2 women] for each cooperative societies.
· 5 years after date of election. · S.L work – Caption of expert – In banking finance manage max -2 [addition 21] |
| Election | 1. S.L responsible for election
2. Election before end of 5 years. 3. Suspension & supervision of Board & interim management. 4. Max – 6 months for negligence, comittence, persistant default. |
| Audit of Acc. Of cooperative societies | · Account should be audit – atleast once in a year.
· Annual general co-operative meeting should be held. Rts. of member to get information · Ensure participation. · Provision of penalty on cooperative society & members. |
| Reasons for 97th CA, 2011 | · In the past – outstanding contribution to various sector of National economy & achieved voluminous growth but safeguard the interst of member (dec.).
· Continuous election (dec.) · Inadequate professionalism (inc.) · Members with ling term (inc.) |
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