(1) Every multi-State co-operative society may make its bye-laws consistent with the provisions of this Act and the rules made thereunder.
     (2) In particular and without prejudice to the generality of the foregoing power, such bye-laws may provide for all or any of the following matters, namely:--
         (a) the name, address and area of operation of the society;
         (b) the objects of the society;
         (c) the services to be provided to its members;
         (d) the eligibility for obtaining membership;
         (e) the procedure for obtaining membership;
         (f) the conditions for continuing as member;
         (g) the procedure for withdrawal of membership;
         (h) the transfer of membership;
         (i) the procedure for expulsion from membership;
         (j) the rights and duties of the members;
         (k) the nature and amount of capital of the society;
         (l) the manner in which the maximum capital to which a single member can subscribe;
         (m) the sources from which the funds may be raised by the multistate co-operative society;
         (n) the purpose for which the funds may be applied;
         (o) the manner of allocation or disbursement of net profits of the multi-State co-operative society;
         (p) the constitution of various reserves;
         (q) the manner of convening general meetings and quorum thereof other than those provided under this Act;
         (r) the procedure for notice and manner of voting, in general and other meetings;
         (s) the procedure for amending the bye-laws;
         (t) the number of members of the board not exceeding twenty-one;
         (u) the tenure, of directors, chairperson and other office bearers of the society, not exceeding five years;
         (v) the procedure for removal of members of the board and for filling up of vacancies;
         (w) the manner of convening board meetings, its quorum, number of meetings in a year and venue of such meetings;
         (x) the frequency of board meetings;
         (y) the powers and functions of the Chief Executive in addition to those provided under section 52;
         (z) the manner of imposing the penalty;
         (za) the appointment, rights and duties of auditors and procedure for conduct of audit;
         (zb) the authorisation of officers to sign documents and to institute and defend suits and other legal proceedings on behalf of the society;
         (zc) the terms on which a multi-State co-operative society may deal with persons other than members;
         (zd) the terms on which a multi-State co-operative society may associate with other co-operative societies;
         (ze) the terms on which a multi-State co-operative society may deal with organisation other than co-operative societies;
         (zf) the rights, if any, which the multi-State co-operative society may confer on any other multiState co-operative society or federal co-operative and the circumstances under which such rights may be exercised by the federal co-operative;
         (zg) the procedure and manner for transfer of shares and interest in the name of a nominee in case of death of a member;
         (zh) the educational and training programmes to be conducted by the multi-State co-operative society;
         (zi) the principal place and other places of business of multi-State co-operative society;
         (zj) the minimum level of services, to be used by its members;
         (zk) any other matter which may be prescribed.