Amendment status not verified — confirm the current text below against the official source.
(1) No members of a society in Co-operative Credit Structure shall be eligible to be elected as member or other office bearer in the Com- mittee if he is in default for a period of 12 months in payment of dues to the Society. Power of the Committee. Borrowing and Investment. Disqualification of members and other office bearers. Members to borrow or made deposits. APCS ACT 1978 74 (2) No person elected as member or other office bearer in the Committee of a society in Co-operative Credit Structure shall be allowed to act as such if he is in default for a period exceeding 12 months in payment of dues to the society unless the amount in default with due interest is paid to the Society. (3) No member or office bearer of Large Sized Multipurpose Cooperative Societies shall be eligible to be elected as member or office bearer in the Committee of the State Co-operative Bank or can be permitted to hold such post if the society is in default in payment of dues to the State Co-operative bank for more than one year unless amount in default with due interest is paid to be State Co-operative Bank. (4) No member of a non-credit society who is member in the Committee of the State Co-operative Bank shall be allowed to act as such if the society commits default for a period exceeding ninety days in payment of dues to the Bank. (5) No member of the Committee of Large Sized Multipurpose Cooperative Societies superseded under section 143 shall be eligible to contest election for its membership for period of three years from the date of supersession.