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The Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)

Meghalaya

An Act to facilitate the formation and working of Co-operative Societies as accountable, competitive, self reliant, business enterprises based on thrift, self-help and mutual aid and owned, managed and controlled by members for their economic and social betterment and in accordance with the relevant Directive Principles of State Policy of the Constitution of India and for matters connected therewith and incidental thereto.

Act number
11 of 2015
Ministry
Meghalaya Law Department
Department
Law Department
Enacted
7 Oct 2015

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

104 sections

  1. Section 1Short title,extent and commencement
  2. Section 2Definitions
  3. Section 3The Registrar.
  4. Section 4Co-operative Societies which may be registered.
  5. Section 5Age, qualification of a member.
  6. Section 6Conditions of registration.
  7. Section 7Restrictions on acquisition of Share in a Cooperative Society.
  8. Section 8Power of Registrar to decide certain questions.
  9. Section 9Liability.
  10. Section 10Application for Registration.
  11. Section 11Registration
  12. Section 12Evidence of registration.
  13. Section 13Amendment of the Bye-laws of a registered cooperative society.
  14. Section 14Power of Registrar or affiliating cooperative society to direct amendment of bye-laws or adoption of rules of procedure.
  15. Section 15Division and amalgamation of co-operative societies.
  16. Section 16Members not to exercise rights till due payment made and conditions fulfilled
  17. Section 17Vote of members.
  18. Section 18Loan to be utilized for the purpose for which advanced.
  19. Section 19Restriction on transfer of share or interest.
  20. Section 20Liability of past member and his estate.
  21. Section 21Share or interest not liable to attachment.
  22. Section 22Nomination of transferee
  23. Section 23Transfer of interest on death of members.
  24. Section 24Disposal of Shares or interest of ceased members.
  25. Section 25Liability of members on winding up of Co-operative Society with limited Liability.
  26. Section 26Restriction on Transfer of Possession of Land held Under a Cooperative Society.
  27. Section 27Right of a registered Cooperative Society to pay prior Debts of a mortgagor.
  28. Section 28Restriction on Mortgaged Property.
  29. Section 29Bar to certain claim.
  30. Section 30General Assembly
  31. Section 31Annual Meeting of General Assembly
  32. Section 32Special Meeting of the General Assembly
  33. Section 33Administrative Council
  34. Section 34Power to depute Government servant to manage the affairs of a Cooperative Society.
  35. Section 35Dissolution or reconstruction of Board of Directors , the Administrative Council, Managing Body or any Committee of a Co-operative Society.
  36. Section 36Dissolution of the Board of Directors / Administrative Council, Managing Body and appointment of persons to manage the affairs of a Cooperative Society.
  37. Section 37Tenure of office of the person appointed under section 36.
  38. Section 38Powers of person appointed under section 36.
  39. Section 39Address of Cooperative society
  40. Section 40Prescription and inspection of documents.
  41. Section 41Borrowing subject to approval of the Registrar.
  42. Section 42Participation of members in the affairs of the Cooperative Society.
  43. Section 43Training or Education of members of Cooperative Society.
  44. Section 44Power of Government to give financial assistance.
  45. Section 45Restrictions on loans
  46. Section 46Cooperative Society and office bearers to submit Returns or informations and produce documents
  47. Section 47Prior Claim of a Cooperative Society
  48. Section 48Charge and set off in respect of shares or interest of members.
  49. Section 49Deduction of dues from salary.
  50. Section 50Exemption from compulsory registration and personal attendance from registration of instruments.
  51. Section 51Power to remit certain duties, fees etc.
  52. Section 52Investment of Funds
  53. Section 53Reserve Fund
  54. Section 54Distribution of Net Profit
  55. Section 55Audit of Accounts of Cooperative societies.
  56. Section 56Power of the Registrar to have the Accounts written up.
  57. Section 57Nature of Audit.
  58. Section 58Audit Report
  59. Section 59Audit report
  60. Section 60Rectification of defects.
  61. Section 61Inquiry by Registrar.
  62. Section 62Inspection of a Cooperative Society.
  63. Section 63Cost of Inquiry, Inspection and Recovery of costs.
  64. Section 64Reference of dispute.
  65. Section 65Settlement of dispute
  66. Section 66Cancellation of Registration
  67. Section 67Winding up
  68. Section 68Distribution of fund of a dissolved Cooperative Society.
  69. Section 69Liquidator to deposit the books and submit a final report.
  70. Section 70Bar of Suit
  71. Section 71Insured Cooperative Banks.
  72. Section 72Power of Registrar to direct payment of dues.
  73. Section 73Charge and surcharge
  74. Section 74Prohibition of the use of the word “Co­ operative”.
  75. Section 75Punishment for false return , false information, disobeying summons order etc.
  76. Section 76Punishment for disposing property in contravention of section 47.
  77. Section 77Penalty for certain misdemeanors.
  78. Section 78Power to enforce performance of obligation.
  79. Section 79Cognizance of offences.
  80. Section 80Indemnity
  81. Section 81Bar to Jurisdiction of courts.
  82. Section 82Appeal or review.
  83. Section 83Power of Attachment of property.
  84. Section 84Registrar to be Civil Court for certain purposes.
  85. Section 85Recovery of sums due.
  86. Section 86Registrar may order a meeting of Creditors.
  87. Section 87-110Applicable To Short Term Co-Operative Credit Structure
  88. Section 111Co-operative Society to fee a body Corporate.
  89. Section 112Register of members*
  90. Section 113Entries in books of registered co-operative society shall be received as prima facie evidence.
  91. Section 114Savings of Existing Cooperative Societies.
  92. Section 115Construction of reference to Act II of 1912.
  93. Section 116Act VII o f 1913 not to apply.
  94. Section 117Acts of co-operative societies etc, not to be invalidated by certain defects.
  95. Section 118Power to exempt co-operative societies from provision of the Act.
  96. Section 119Rules and bye laws not to be deemed to go beyond the Act.
  97. Section 120Power to exempt co-operative societies from conditions as to registration.
  98. Section 121Power to order recoupment of expenditures.
  99. Section 122Power to seize records of co-operative society.
  100. Section 123Power of the Managing body of an affiliating co-operative society to enquire into the affairs of a member cooperative society.
  101. Section 124Limitation.
  102. Section 125Power to exempt cooperative societies from the operation of the Money Lender Act.
  103. Section 126Powers to make rules.
  104. Section 127Repeal and Savings