Amendment status not verified — confirm the current text below against the official source.
Promotion of subsidiary Organisation.- (1) Any Cooperative Society may, by a resolution passed at general meeting by a majority of members present having voting right, promote one or more subsidiary organisations for the furtherance of its stated objectives, and such organistion or organisations may be registered under any, law for the time being in force, as agreed to by the general body. (2) The annual reports and accounts of any such subsidiary organization shall be placed before the general meeting of the promoting Cooperative Society every year. (3) Any subsidiary organization created under-section (1) shall exist only as long as general body of the Cooperative Society deems its existence necessary.