Amendment status not verified — confirm the current text below against the official source.
Sub-Sec. 4 renumbered as 4(a) and 4(b) Ins by Act 6 of 2013. Sec. 14] Bihar Co-operative Societies Act, 1935 [13 (iv) to endorse and transfer promissory notes, Government and other Securies and to endorse, sign and negotiate cheques and other negotiable instrument on behalf of the registered society. (v) to be responsible for the general conduct, supervision and management to the day-to- day business and affairs of the registered society; (vi) to sign all deposits, receipts and operate the accounts of the registered society with Bank . (vii) to sign all bonds and agreements on behalf of the registered society; (viii) to determine the powers, duties and responsibilities of the employees of the registered society; (ix) to appoint, promote, transfer, punish, suspend, remove or dismiss any paid employee of the registered society except to the extent of the powers vested in the Managing Committee under the bye-laws of the registered society; (x) to institute, conduct, defend, compound or to withdraw any suit or other legal proceedings for or against the registered society and also to compound and allow time for payment to satisfaction of any claims; . (xi) to delegate all or any of the powers to an employee or employee of the registered society subject to his control and supervision; 1[(4) 3[(a) Notwithstanding any thing contained in any provision of this Act, or of rules framed there under or the bye laws of any registered Society where the State Government has subscribed directly to the Share Capital of a registered Society an amount exceeding Rupees Thirty Lakh, in that case the State Government shall have the right to nominate three persons as members on the Managing Committee of that Society : Provided that among the members so nominated two will be from the Government service and the third one will be an officer of Cooperative/ Financing Institution connected with the affairs of the Society. Provided further. that those ex-officio members as provided in the bye-laws of the society shall be counted in the quota/numbers fixed/provided for nomination. Provided further also that such nominated members shall participate in any meeting of the managing committee or ordinary general meeting of the share holders of the registered Society, convened in accordance with the provisions of the Act and Rules framed thereunder and its bye laws. They shall have right to vote in the meeting of the managing committee but shall have no right to vote in the ordinary general meeting of the share holders." 3["(4)(b) Notwithstanding anything contained in any provision of this Act, or Rules framed thereunder or the Bye-laws of any Co-operative Society, persons having experience in the field of banking, management, finance or specialization in any other field relating to the objects and activities undertaken by the Co-operative Society may be coopted to the Board of the Society: Provided that the number of such co-opted members shall not exceed two and that number shall be in addition to the specified maximum number prescribed in the subsection (2.): Provided further that such co-opted members shall not have the right to vote in any election of the Co-operative Society in their capacity as such members or to be eligible to be elected as Office-bearers of the Board: Provided further also that the Functional Directors of a Co-operative Society shall also be the members of the Board and such members shall be excluded for the purpose of counting the total number of Directors specified in the sub-section (2.)" 2[(5) Notwithstanding any thing contained in any provision of this Act, Rules made there under and bye laws of the Society the existing members and office bearers nominated by the Government shall cease to be a member of the managing committee within ninety days of the publication of this Amendment Act in the official gazette; and such registered society shall have elections to the vacant posts for the remaining period of its term; Bihar Co-operative Societies Act, 1935 [Sec. 14 Provided further that in superseded societies the Administrator of the Society shall constitute new managing committee by election within twelve months from the date of publication in the official gazette of this Amendment Act 2002; otherwise the Registrar shall appoint a new Administrator for a further period of three months and get the man- aging committee constituted by election. '[xxx ] 2[(7) Notwithstanding the provisions of re-numbered sub-section (9) the nominated members of the Managing Committee including the Chairman shall hold office durinc the pleasure of the State Government.] , · 3[xxx ] 4["(9) Notwithstanding anything contained in any provision of Rules or the Bye-laws of any Co-operative Society the term of office of elected members of the Board and its_ Office- bearers shall be five years from the date of election and the term of Office-bearers shall be co-terminus with the term of the Board: Provided that the Board may fill a casual vacancy on the Board by nomination out of the same class of members in respect of. which the casual vacancy has arisen, if the jerm of the Board is less than half of its original term:· ' Provided further that if the term of the Board remains for more than half of its. original term and if any vacancy arises for elected members or Office-bearers for any reason whatsoever, the Bihar State Election Authority shall fill the vacancy for remaining period by holding by-election." , 4["(1 O) If for any reason Bihar State Election Authority has failed to conduct the elec tion of the Board in any Co-operative Society where Government has provided share capital or loan or financial assistance or any Government guarantee, the Board shall be deemed automatically superseded from the date of expiry of its term and the Registrar, Co-operative Societies shall appoint any person· as Administrator for a period of not more than six months for getting the new Board constituted by election. The Administrator so appointed shall provide every possible help to the Bihar State Election Authority to, conduct the election. This arrangement shall be' an interim arrangement arid the Adrlf istrator shall hand over the management of the Society to the new Board after election within the prescribed period: · · · Provided that where the Government has not provided share capital or loan or, financial assistance or any Government guarantee and where the Bihar State Election Authority fails to conduct elections before the expiry of the term of the Board, the Registrar of the Co- operative Societies may order to convene a special Gene!@} Meeting of the members, for appointing an ad-hoc Board for the purpose of conduct: ing elections: pProvided further that the outgoing members and Office-bearers of Board shall TO! be included in ad-hoc Board for the purpose of conducting elections: Provided further also that the term of ad-hoc Board so appointed shall not exceed six months and the ad-hoc Board so appointed shall provide every possible help to the Bihar State Election Authority to conduct the election. This arrangement shall be an interim arrangement and such appointed ad-hoc Board shall hand over the management of the Society to the new Board after election within the prescribed period." (11) Every registered society shall keep open to inspeition free of charge at all resonable times at its registered address- (a) a copy of this Act. (b) a copy of the rules governing such society (c) a copy. of the bye-laws of such society, and (d)a register of its members; 3[xxx]