Description

The function of Governing Body Members of Multi-State:-

As far as the interim management committee list is concerned who is responsible for the management and handling of the society, the society should minimum 7 members and this list can go upto 21 members. After the 97th Constitutional Change Act 2011 from February 2013, it is compulsory to keep 2 ladies and 1 extra member who belongs to Scheduled Caste or to Scheduled People in the main governing body list. Till today, there are 900-950 Multi-State Cooperative Societies from which optimum are credit. The governing body members participate in yearly basic body meetings, unique basic body meetings, resolutions, notification, quorums and so on
. Just for example in a credit cooperative society, if the society wants to make any scheme like gold loan, automobile loan, fixed deposit loan, double deposit plan, triple deposit plan or any unique scheme, the society needs to give a prior 15 days discover to all its members by rate post, newspaper publication, etc. After 15 days, the basic body conference is conducted. If the quorum is one-fifth of the overall members present and voting during the resolution, the meeting can just occur. The trademarks of the governing body members in addition to ordinary members present and voting are absorbed the minute's book and maintained for future records. The special basic body meeting can be conducted by giving a notice of a minimum of 7 days. A society should carry out at least 4 general body conferences in every monetary year. In every monetary year, the society ought to employ a chartered accounting professional in a general body conference by passing a resolution. This CA looks after the accounts of the society and submits the balance sheets and tax returns. The societies accept Credit, Housing and Multi-Purpose can accumulate money from its members on the basis of shared allocation and advance. They can offer dividends to their members on shares and commissions on advance. In addition as per the policies of the MSCS Act 2002, a person already belonging to a society can not be a member of a multi-state cooperative society of the exact same kind.