Amendment status not verified — confirm the current text below against the official source.
(1) There shall be a President and Vice-president in a cooperative society to be elected by the Board from amongst its Directors in accordance with the provisions of the bye-laws. The term of President and Vice-president elected by the Board shall be coterminous with the term of the Board. (2) Vacancy in the office of the President or Vice-president shall be filled in by the Board in accordance with the provisions of the bye-laws and the President or Vice-president so elected shall hold office for the unexpired term of his predecessor. (3) The Vice-President may resign his office at any time by notice in writing to the President and the President may resign his office at any time by notice in writing to the Vice-President. Such resignation shall take effect from the date of its acceptance by the Board. (4) The Board may, by a resolution passed by three- fourth majority of the Directors present and voting at a meeting held for the purpose, remove the President or Vice-president. Such meeting shall not be presided over by the President or Vice -President against whom such resolution is to be considered. (5) The President or Vice-president as the case may be aggrieved by the resolution passed under sub-section(4) may appeal to the Registrar within thirty days from the date of passing of such resolution whose decision thereon shall be final. (6) In the event of the occurrence of any vacancy in the office of the ' \ president by reason of his death, resignation or removal or otherwise, the Vice-President shall act as President until the date on which a new president is elected in accordance with the provisions of this Act and the Bye-laws to fill such vacancy. (7) When the President is unable to discharge his functions owing to absence, illness or otherwise the Vice-President shall discharge the functions of the President until the date on which the President resumes his duties. DISQUALIFICATIO N OF THE MEMBERS OF THE BOARD AND ADMINISTRA TIVE COUNCIL