Amendment status not verified — confirm the current text below against the official source.
(1) The general body of a society shall cause to be kept proper books of account with respect to- (a) all sums of money received and expended for and on behalf of the society and the matters in respect of which the receipt and expenditure take place; and (b) the assets and liabilities of the society. (2) If default is made in complying with the requirements of this section, every member of the governing body who has knowingly by his act or omission, been the cause of such default, shall be liable to a fine [of twenty rupees for every day during which the default continues, subject to a maximum of [three hundred rupees]] Substituted by Kerala Finance Act, 2014 (29 of 2014). Prior to the amendment it read as "not exceeding one thousand rupees" Substituted by Kerala Finance Act, 2023 (17 of 2023) published in K. G. Ext. No. 1170 dt. 28/03/2023 (w.e.f. 01/04/2023). Prior to the substitution it read as: "two hundred rupees"