Amendment status not verified — confirm the current text below against the official source.
In additional to such other conditions as may be specified in the articles of association, a member of a cooperative shall be eligible for being chosen as a director of the cooperative, if,–– (i) such member has the right to vote in the affairs of the cooperative ; and (ii) such member has patronized the services of the cooperative during the previous financial year to the extent and in the manner specified in the articles of association ; and (iii) such member has no interest in any subsisting contract made with or work being done for the cooperative except as otherwise specified in the articles of association ; and (iv) three years have lapsed from the date that such member may have ceased to be a director of the cooperative for reasons of,–– (a) non-conduct of general meeting ; (b) non-conduct of elections to the board ; (c) non-submission of annual report of activities, audited annual financial statements and/or auditor’s report to the general body ; or (d) absence from board meetings.