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In force

The Multi-State Co-operative Societies Act, 2002

135 sections · As amended up to 2026-08

Sections

  1. XV — MISCELLANEOUS
  2. 1Ins. by Act 11 of 2023, s. 49 (w.e.f. 3-8-2023)
  3. 2Since 1942, far-reaching changes have occurred in the organisational structure, overall size and ope
  4. 3Definitions
  5. 4The scope of the Bill is divided into several parts on the usual lines of co-operative legislation i
  6. 5Some of the provisions contained in the State co-operative laws and which have been 'irritants' to n
  7. 6National Federation of Co-operative Sugar Factories Limited, New Delhi
  8. 7Registration
  9. II — CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES
  10. 8Registration certificate
  11. XV — MISCELLANEOUS
  12. 9Serial number 18 renumbered as '14' ibid
  13. II — CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES
  14. 10Bye-laws of multi-State co-operative societies
  15. XV — MISCELLANEOUS
  16. 11Serial number 21 renumbered as '16' ibid
  17. II — CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES
  18. 12When amendment of bye-laws comes into force
  19. 13Change of name
  20. 15Publication of name by multi-State co-operative society
  21. 16Liability
  22. 17Amalgamation or transfer of assets and liabilities, or division of multi-State co-operative societies
  23. 18Central Registrar to prepare scheme of amalgamation or reorganisation of a co-operative bank in certain cases
  24. 19Promotion of subsidiary institution
  25. 20Liability of a co-operative bank to deposit insurance and credit guarantee corporation
  26. 21Cancellation of registration certificate of multi-State co-operative societies in certain cases
  27. 22Conversion of a co-operative society into a multi-State co-operative society
  28. III — REGISTRATION AND FUNCTIONS OF FEDERAL CO-OPERATIVES
  29. 23Registration of federal co-operative
  30. 24Functions of federal co-operative
  31. IV — MEMBERS OF MULTI-STATE CO-OPERATIVE SOCIETIES AND THEIR DUTIES, RIGHTS AND LIABILITIES
  32. 25Persons who may become members
  33. 26Nominal or associate member of society
  34. 27Educational course for members
  35. 28Members not to exercise rights till due payment made
  36. 29Disqualification for member of a multi-State co-operative society
  37. 30Expulsion of members
  38. 31Vote of members
  39. 32Manner of exercising vote
  40. 33Restriction on holding of shares
  41. 34Restriction on transfer of shares or interest
  42. 36Transfer of interest on death of members
  43. 37Liabilities of past member and estate of deceased member
  44. V — DIRECTION AND MANAGEMENT OF MULTI-STATE CO-OPERATIVE SOCIETIES
  45. 38Constitution, powers and functions of general body
  46. 39Annual general meeting of general body
  47. 40Special general meeting of general body
  48. 41Board of directors
  49. 42Association of employees in management decision making process
  50. 43Disqualifications for being a member of board
  51. 44Prohibition to hold office of chairperson or president or vice-chairperson or vice-president in certain cases
  52. 45APower of Chairperson
  53. 45BRemoval and suspension of Chairperson, Vice Chairperson and Members
  54. 45CDisclosure and declaration of interest
  55. 45DResignation of Members
  56. 45EFilling of casual vacancy
  57. 45FRestriction of reemployment
  58. 45GVacancies, etc., not to invalidate proceedings of Authority
  59. 45HMeetings of Authority
  60. 45JElections of members of board
  61. 45KAppointment of Returning Officer and other officers
  62. 45LPower to issue directions
  63. 46Holding of office in co-operative society
  64. 47Removal of elected members by general body
  65. 48Nominee of Central Government or State Government on board
  66. 49Powers and functions of board
  67. 50Meeting of board
  68. 51Chief Executive
  69. 52Powers and functions of Chief Executive
  70. 53Committees of board
  71. VI — PRIVILEGES OF MULTI-STATE CO-OPERATIVE SOCIETIES
  72. 55Charge and set-off in respect of share or contribution or interest of members
  73. 56Share of contribution or interest not liable to attachment
  74. 57Register of members
  75. 58Admissibility of copy of entry as evidence
  76. 59Exemption from compulsory registration of instruments
  77. 60Deduction from salary to meet multi-State co-operative society' s claim in certain cases
  78. 61Government aid to multi-State co-operative societies
  79. VII — PROPERTIES AND FUNDS OF MULTI-STATE CO-OPERATIVE SOCIETIES
  80. 62Funds not to be divided by way of profit
  81. 63Disposal of net profits
  82. 63BRehabilitation and reconstruction of sick societies
  83. 63CFinancial assistance to multi-State co-operative societies for development
  84. 64Investment of funds
  85. 65Restriction on contribution
  86. 66Restriction on loans
  87. 67Restrictions on borrowing
  88. 68Restriction on other transactions with non-members
  89. 69Contributory provident fund
  90. VIII — AUDIT, INQUIRY, INSPECTION AND SURCHARGE
  91. 70Appointment and remuneration of auditors
  92. 71Provision as to resolutions for appointing or removing auditors
  93. 72Qualifications and disqualifications of auditors
  94. 73Powers and duties of auditors
  95. 74Signature of audit report, etc
  96. 75Reading and inspection of auditor's report
  97. 76Right of auditor to attend general meeting
  98. 77Power of Central Government to direct special audit in certain cases
  99. 78Inquiry by Central Registrar
  100. 79Inspection of multi-State co-operative societies
  101. 80Inspection of books of indebted multi-State co-operative societies
  102. 81Costs of inquiry and inspection
  103. 82Recovery of costs
  104. 83Repayment, etc
  105. IX — SETTLEMENT OF DISPUTES
  106. 84Reference of disputes
  107. 85Limitation
  108. X — WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY
  109. 86Winding up of multi-State co-operative societies
  110. 87Winding up of co-operative bank at the direction of Reserve Bank
  111. 88Reimbursement to the Deposit Insurance Corporation by liquidator
  112. 89Liquidator
  113. 90Powers of liquidator
  114. 91Disposal of surplus assets
  115. 92Priority of contributions assessed by liquidator
  116. 93Power of Central Registrar to cancel registration of a multi-State co-operative society
  117. XI — EXECUTION OF DECREES, ORDERS AND DECISIONS
  118. 94Execution of decisions, etc
  119. 95Execution of orders of liquidators
  120. 96Attachment before award
  121. 97Central Registrar or arbitrator or person authorised to be civil court for certain purposes
  122. 98Recovery of sums due to Government
  123. XII — APPEALS AND REVIEW
  124. 99Appeals
  125. 100No appeal in certain cases
  126. 101Review
  127. 102Interlocutory orders
  128. XIII — SOCIETIES WHICH BECOME MULTI-STATE CO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES
  129. 103Co-operative societies functioning immediately before reorganisation of States
  130. XIV — OFFENCES AND PENALTIES
  131. 104Offences and penalties
  132. 105Cognizance of offences
  133. XV — MISCELLANEOUS
  134. 106ACopy of rules and bye-laws, etc., for inspection
  135. 107Place of keeping and inspection of, registers and returns
  136. 108Inspection of books of account, etc., of multi-State co-operative society
  137. 110Minutes of proceedings of general meetings and of board and other meetings
  138. 111Minutes to be evidence
  139. 112Presumptions to be drawn where minutes duly drawn and signed
  140. 113Inspection of minutes book of general meetings
  141. 114Liquidator to be public servant
  142. 115Notice necessary in suits
  143. 117Bar of jurisdiction of courts
  144. 118Indemnity
  145. 119Opening of branches
  146. 120Filing of returns
  147. 120AFiling of applications, documents, inspections, etc., in electronic form
  148. 120BApplication of Banking Regulation Act, 1949
  149. 121Certain Acts not to apply
  150. 122Central Government's power to give directions to specified multi-State co-operative societies in public interest
  151. 123Supersession of board of specified multi-State co-operative society
  152. 124Power to make rules
  153. 125Power to remove difficulties
  154. 126Repeal and saving