Act Number: 39

Act Name: The Multi-State Co-operative Societies Act, 2002

Year: 2002

Enactment Date: 2002-07-03

Long Title: An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operative s as peoples institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto.

Ministry: Ministry of Cooperation

Department:

Section 41: Board of directors.
    (1) Subject to the provisions of this Act and rules, there shall be a board of directors for every multi-State co-operative society consisting of such number of members as specified in sub-section (3).
     (2) The members of a multi-State co-operative society, by a resolution in a general meeting, shall elect directors who shall be members of board.
     (3) The board shall consist of such number of directors as may be specified in the bye-laws:
     Provided that the maximum number of directors in no case shall exceed twenty-one:
     Provided further that the board may co-opt two directors in addition to twenty-one directors specified in the first proviso:
     Provided also that the functional directors in the national co-operative societies shall also be the members of the board and such members shall be excluded for the purpose of counting the total number of directors specified in the first proviso.
Previous Section Next Section
Scroll to Top