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 52: Powers and functions of Chief Executive.
    The Chief Executive shall under the general superintendence, direction and control of the board, exercise the powers and discharge the functions specified below, namely:--
         (a) day-to-day management of the business of the multi-State co-operative society;
         (b) operating the account of the multi-State co-operative society and be responsible for making arrangements for safe custody of cash;
         (c) signing on the documents for and on behalf of the multi-State co-operative society;
         (d) making arrangements for the proper maintenance of various books and records of the multiState co-operative society and for the correct preparation, timely submission of periodical statements and returns in accordance with the provisions of this Act, the rules and the bye-laws;
         (e) convening meetings of the general body of the multi-State co-operative society, the board and the Executive Committee and other committees or sub-committees constituted under sub-section (1) of section 53 and maintaining proper records for such meetings;
         (f) making appointments to the posts in the multi-State co-operative society in accordance with the bye-laws;
         (g) assisting the board in the formulation of policies, objectives and planning;
         (h) furnishing to the board periodical information necessary for appraising the operations and functions of the multi-State co-operative society;
         (i) appoint the person to sue or be sued on behalf of the multi-State co-operative society;
         (j) present the draft annual report and financial statement for the approval of the board within thirty days of closure of the financial year;
         (k) performing such other duties, and exercising such other powers, as may be specified in the bye-laws of the multi-State co-operative society.
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