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.)

Get all essential Crux notes by clicking here

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top