Cooperative Societies Flashcards
(26 cards)
Which Constitutional amendment for Cooperative Socieites?
97th
What provisions added through 97th amendment?
19(right), 43B(DPSP) , Part 9
Who makes all laws related to cooperative societies?
State Legislature
Number of members(directors) of board in cooperative society?
Decided by SL but max 21
Reservation in cooperative societies?
1 SC/ST + 2 Women
Term of office of cooperative society
5 years
Who are not counted among the 21 directors in cooperative?
Coopted members + Functional directors
Max number of coopted members in cooperative?
2
Qualification of coopted members in cooperative?
BFMS( Banking, Management, Finance, or related specs)
Difference between coopted and regular members of cooperative society?
Can’t vote, can’t be elected to office bearers
Deadline for elections to cooperative board?
Before expiry of term
Who coordinates election in cooperative society?
State Legislature ka decided body
Max period for board suspension of cooperative society?
6 months
Condition for suspension of cooperative society board?
Default/Negligence/Prejudicial Act + Stalemate + elections faulty
When the government can’t suspend a cooperative?
No Gov shareholding/financial assisstance
Deadline for election after suspension of cooperative board?
6 months
Minimum Frequency of audits of cooperative society
at least once a year
Who decides frequency of audits of cooperative society?
State Leg
Qualification of auditors of cooperative society?
State leg decides
Who decides actual auditors of cooperative body?
Cooperative society ka general body
Who decides which auditors can be chosen?
State government
What is done with the audits of apex cooperative societies?
Placed before State Legislature
Deadline for annual general body meeting?
6 months after end of financial year
Deadline for returns of cooperative society
6 months after end of financial year
