The Manipur Co-Operative Societies Act, 1976

manipur · 1976

The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.

S. 1(1) This Act may be called the Manipur Co-operative Societies Act, 1976
S. 2In this Act, unless the context otherwise requires— (1) “Agricultural Marketing! Society” means a
S. 3Section 3 regulates the transfer and charge of shares in a Manipur Co-Operative Society, requiring a one-year holding period and specific conditions for transfers.
S. 4Section allows registration of cooperative societies promoting members' economic interests, barring those deemed economically unsound or harmful to cooperative movement.
S. 5A Society may be registered with limited or unlimited liability
S. 6(1) No society, other than a
S. 7The section allows the State Government to exempt any society from registration requirements under the Act.
S. 8Section 8 outlines the application process and registration requirements for cooperative societies under the Manipur Co-Operative Societies Act, 1976.
S. 10Section 10 states that a registration certificate signed by the Registrar is conclusive proof of a society's registration unless cancellation is proven.
S. 11When, for the purpose of the formation, or continuance
S. 12Section 12 classifies societies into defined categories and allows the Registrar to reclassify and publish a list every three years.
S. 13(1) No amendment of the bye-laws of a Society shall be Valid until registered under this Act
S. 14Section 14 allows the Registrar to amend society bye-laws if necessary, with the society's consent or by Registrar's direct amendment if not complied with.
S. 15(1) A society may, by reSOlution passed at a general meeting, and With the approval of the Registrar
S. 16Section 16 allows a cooperative society to amend its bye-laws to change liability, with member and creditor options to withdraw within a month.
S. 18Section 18 allows the Registrar to amalgamate, divide, or reorganize cooperative societies if it's in the public or cooperative interest.
S. 19Section 19 allows the Registrar to order the reconstruction of a cooperative society if a compromise or arrangement is approved by a special general meeting.
S. 20Section 20 allows two or more societies to form a partnership with Registrar's approval, except under Indian Partnership Act, 1932.
S. 21Section 21 cancels a cooperative society's registration if it ceases to function or no longer aligns with its original objectives.
S. 22Section 22 outlines the eligibility criteria for membership in Manipur Co-Operative Societies, excluding money-lenders and conflicting interests.
S. 23Section 23 mandates that no society can deny membership without valid reason and allows appeals to the Registrar for refusals.
S. 24(i) Notwithstanding anything contained in section 22, a
S. 25Section 25 details conditions under which a member's membership in a cooperative society ends.
S. 26Section 26 prohibits individuals from exercising member rights until they fulfill prescribed membership payment or interest requirements.
S. 27Section 27 outlines voting rights and procedures for members, joint holders, and external investors in cooperative societies in Manipur.
S. 28Limits individual members' share capital and interest holdings in cooperative societies, with exceptions for government-authorized entities.
S. 29Section 29 regulates maximum share holdings in cooperative societies in Manipur.
S. 31The share or interest of a member in the capital of a societ where or In- ter
S. 32Section 32 allows members to inspect society documents and obtain copies upon request and payment of prescribed fees.
S. 33(1) Subject to the provisions of Subsection (2), the liability Lia‘bﬂity 0' of a past member
S. 34Section 34 prioritizes a society's dues in insolvency proceedings against a member, ranking them next to government or local authority dues.
S. 35Section 35 allows a cooperative society to expel members for detrimental acts, with a one-year readmission ban unless the Registrar approves.
S. 36Section 36 grants registered societies corporate status, perpetual succession, and powers to own property and conduct legal actions.
S. 37Section mandates societies to register an address for notices and notify Registrar of any changes within thirty days.
S. 38(1) Every society shall keep a register of its members, and enter therein the following particulars, viz
S. 40Section 40 allows certified copies of society records to be used as evidence, while protecting society officers from compelled testimony unless ordered by court.
S. 42Section 42 allows the State Government to waive stamp duty, registration fees, and other taxes for cooperative societies.
S. 43Section 43 allows a society to accept deposits and loans under conditions set by its bye-laws.
S. 44Section 44 restricts co-operative society loans to members unless sanctioned by Registrar or allows loans to other societies or depositors on security.
S. 45Section 45 restricts a society's transactions with non-members to prescribed limitations.
S. 46Section 46 allows a society to charge and set off debts due from members against their shares, deposits, and profits.
S. 47(1) Notwithstanding anything (contained) in any other law for the time being in force, but subject to any prior claim of
S. 48Section 48 of the Manipur Co-Operative Societies Act, 1976, mandates members to declare land ownership as collateral for society loans and prohibits alienation without consent.
S. 49(1) A member of a
S. 50The State Government can directly subscribe to a limited liability society's share capital under agreed terms.
S. 51The State Government can allocate funds for an Apex Society to buy shares in other limited liability societies.
S. 52Section 52 establishes a Principal State Partnership Fund for an Apex Society to use for purchasing shares in other societies.
S. 53(1) A Central Society Which is provided with money by an
S. 54Section 54 prohibits the purchase of shares from state partnership funds without prior state government approval.
S. 55Section 55 limits liability for shares purchased by state government or apex societies to the amount paid if the society is wound up.
S. 56Section 56 specifies the dividend entitlement for Apex and Central Societies based on shares purchased from state partnership funds.
S. 57(1) If a society in which shares are purchased from the Principal State Partnership Fund is wound up, or is dissolved
S. 58Section 58 mandates that funds received by Apex or Central societies from shares or dividends must first be credited to respective state partnership funds and then paid to the State Government.
S. 59Section 59 outlines the disposition of funds in Principal and Subsidiary State Partnership Funds upon dissolution of respective societies.
S. 61Section 61 allows the State Government to make agreements with Apex societies for funding and with Central societies for specified purposes.
S. 62Section 62 allows the State Government to provide loans, guarantees, and financial assistance to cooperative societies under specified conditions.
S. 63Section 63 overrides any conflicting provisions in other laws for the sections 51 to 61.
S. 64Section 64 restricts cooperative societies from distributing funds other than net profits among members, except for permissible remuneration for services.
S. 65Section 65 outlines how a profit-earning society calculates net profit and appropriates it for various purposes with AGM approval.
S. 66(1) Every society Which does, or can, derive a proﬁt from its transactions, shall maintain a reserve fund
S. 67No society shall pay dividend to its members at the rate exceeding 9 per cent
S. 68Section 68 mandates annual contributions from societies to the Education Fund, with penalties for non-compliance.
S. 69Section 69 allows a cooperative society to allocate up to 20% of its net profits for co-operative, charitable, or public purposes after setting aside reserve and educational funds.
S. 70Section 70 mandates how a Manipur Co-Operative Society must invest or deposit its funds.
S. 71Section 71 allows societies to establish employee provident funds, which must be invested and administered separately from society business.
S. 72Section 72 of the Manipur Co-Operative Societies Act, 1976 vests final authority in the general body of members meeting in a general meeting.
S. 75Section 75 mandates every society to hold an annual general meeting within three months after the end of the cooperative year, with provisions for extensions.
S. 76(1) A special general meeting may be called at any time ”L
S. 77Section 77 protects society actions done in good faith from being invalidated due to later-discovered organizational defects.
S. 78Section 78 empowers the Registrar to remove and replace a defaulting cooperative society board or appoint administrators to manage the society.
S. 80Section 80 allows the Registrar to request a magistrate to seize society records and property to prevent misappropriation.
S. 81Section 81 mandates the Registrar to annually audit cooperative society accounts, including verification of assets, liabilities, and overdue debts.
S. 82Section 82 mandates the society to correct audit-detected defects and report actions to the Registrar, who can also issue orders for remedy.
S. 83Section 83 empowers the Registrar to conduct inquiries into a cooperative society's constitution, operations, and finances, and mandates cooperation from members and officers.
S. 84Section 84 allows the Registrar to inspect a society's books and property to address financial issues.
S. 85Section 85 apportions costs from inquiries or inspections among society members, officers, and creditors, ensuring fair hearings and written grounds.
S. 86Section 86 allows the Registrar to apply to a magistrate to recover awarded costs as if it were a fine.
S. 87(1) If the result of any inquiry held under section 83 or an
S. 88Section 88 allows the Registrar to charge and order repayment or compensation for misapplied funds or breaches of trust by society officials.
S. 89Section 89 empowers the Registrar to summon witnesses and compel document production, similar to a Civil Court, and allows the State Government to impose annual fees on societies for supervision costs.
S. 91Section 91 mandates disputes involving a Manipur Co-Operative Society to be referred to the Registrar for resolution, barring court jurisdiction.
S. 92Section 92 sets the limitation period for disputes related to Manipur Co-Operative Societies Act, varying from one month to six years based on the nature of the dispute.
S. 93Section 93 allows the Registrar to decide or refer disputes to nominees, withdraw cases, and suspend proceedings for complex legal issues.
S. 94(1) The Registrar, or his nominee or board of nominees, hearing a
S. 98Section 98 mandates that certain orders by the Registrar or Liquidator are treated as civil court decrees for execution.
S. 99Section 99 nullifies any private transfers or charges on property after the society's certificate issuance.
S. 100Section 100 allows the court to transfer unsold property from a defaulter to the cooperative society in execution proceedings.
S. 101(1) Notwithstam‘ii‘hg eseything centaihed in sections
S. 103When an interim order is passed under the last preceding seetion or a
S. 104Section 104 allows appeals against winding up orders of Manipur Co-Operative Societies, except for specific grounds, and requires security for costs.
S. 105Section 105 empowers the liquidator to manage, sell, and liquidate the society's assets and settle its debts and claims.
S. 106Section 106 makes a winding up order effective and bars further suits against the society after appeal period.
S. 107Section 107 restricts civil court jurisdiction over society winding up, mandates liquidator's annual accounts submission, and holds liquidator liable for audit irregularities.
S. 109Section 109 outlines the time limits and procedures for winding up and liquidating a cooperative society in Manipur.
S. 111This Chapter shall apply to— (a
S. 112Section establishes State and Primary Land Development Banks in Manipur for agricultural and rural development financing.
S. 113Section 113 establishes a trustee to manage obligations of the State Development Bank to debenture holders, with perpetual succession and legal capacity.
S. 115Section 115 allows the State Government to guarantee debentures issued by cooperative societies, up to a fixed amount and under specified conditions.
S. 116Section 116 vests debenture-related assets in the Trustee, granting debenture holders a floating charge on these assets and related funds.
S. 117Section 117 allows Land Development Banks to provide loans and hold land under the Act's provisions.
S. 118Section 118 outlines the procedure for public notice and objection handling in loan applications for cooperative societies in Manipur.
S. 119Section 119 establishes that a written loan order from the Land Development Bank is conclusive proof of specified improvement and productive purposes.
S. 120Section 120 prioritizes mortgages to Land Development Banks over government claims for loans made after the mortgage.
S. 121Section 121 transfers mortgages and assets to the State Land Development Bank from the Land Development Bank.
S. 122Section 122 exempts mortgages to Land Development Banks from registration under the Indian Registration Act, 1908, but requires filing a copy with the relevant registering officer.
S. 123Section 123 ensures that a mortgage to a Land Development Bank is not invalidated in insolvency proceedings for lack of preference over other creditors.
S. 124(1) Where a mortgage is executed in favour of a Land De
S. 125Section 125 ensures mortgages by a joint family manager for agricultural improvements bind all family members, regardless of majority status.
S. 126Section 126 applies Hindu Minority and Guardianship Act mortgage rules to Land Development Bank mortgages, substituting Deputy Commissioner for Revenue Officer.
S. 127Section 127 allows a mortgager to lease or create tenancy rights on mortgaged property, but only with bank consent, and tenants must pay rent to the bank.
S. 128Section 128 mandates that mortgage payments are to be made to the Land Development Bank unless otherwise directed by the bank or trustee.
S. 129Section 129 states that if mortgaged property is destroyed or becomes insufficient, the entire loan becomes immediately due if the mortgagor fails to provide additional security or repay part of the loan.
S. 130Section 130 allows Land Development Banks to sell or lease property to eligible agriculturists, exempting them from maximum agricultural holding limits.
S. 131A11 loans granted by the the Land Development Banks, e11 1nterests(ifa
S. 132Section 132 allows Land Development Banks to apply for distraint and sale of mortgaged land produce if mortgage instalments remain unpaid for over a month.
S. 133Section 133 outlines procedures for managing sales, deposits, and penalties in land development banks under the Manipur Co-Operative Societies Act, 1976.
S. 134Section 134 outlines procedures for reporting and confirming sales of society property by Land Development Banks.
S. 135Section 135 allocates sale proceeds to cover costs, mortgage interest, principal, and any remaining amount to interested parties or members.
S. 136Section 136 details the issuance of certificates and property transfer upon sale of mortgaged property to the Land Development Bank.
S. 137Section 137 allows the Registrar to grant certificates for recovering arrears from cooperative society members, making them recoverable as land revenue.
S. 138(1) Any ameunt due to a
S. 140Nothing contained in any law for the time being in force in any pert
S. 141Section 141 establishes the creation of Guarantee Funds by the State Government to cover losses from loans made by Land Development Banks.
S. 142It shall be competent for the Registrar to permit any cou Oyemtive bank to function as a
S. 143Section 143 applies provisions of the Transfer of Property Act to notices served under the Manipur Co-Operative Societies Act.
S. 144Section 144 grants the State Land Development Bank supervisory powers over Land Development Banks, including regulation-making for various operational aspects.
S. 145(1) No yerson, other then a
S. 147Every society, ofﬁcer or past oiﬁeer, mem‘her oi: past member, employee of a society, or any other person
S. 150Section 150 allows the Tribunal to review its own orders under certain conditions, while section 151 grants the Tribunal powers similar to a court.
S. 152Section 152 outlines the appeal process for decisions under various sections of the Manipur Co-Operative Societies Act, 1976, specifying where and when appeals can be filed.
S. 153Section 153 allows late appeals if the appellant provides sufficient reason; Section 154 lets Registrar and State Government review and modify society records.
S. 155Section 155 outlines the recovery process for sums due from a society to the government, prioritizing society property, then members, and lastly deceased members.
S. 156Section 156 empowers the Registrar to recover due amounts from societies by property attachment and sale.
S. 157The State Government can exempt societies from certain provisions of the Act with specified modifications.
S. 158Section 158 restricts out-of-state co-operative societies from operating branches in Manipur without permission and mandates reporting requirements for existing branches.
S. 159Section 159 mandates the retiring Chairman to hand over society's charge and property to the new Chairman, with penalties for non-compliance.
S. 160The Registrar, a
S. 161Section 161 protects the Registrar and his subordinates from legal actions for good faith actions under the Act.
S. 162Section 162 restricts civil and revenue courts' jurisdiction over cooperative societies' registration, bylaws, dissolution, and management.
S. 163Section 163 prevents suits against a society or its officers for business-related acts until the Registrar receives a written notice detailing the claim.
S. 164Section 164 empowers the State Government to create rules for regulating and conducting cooperative societies' business in Manipur.
S. 165Section 165 repeals the Assam Cooperative Societies Act in Manipur, transferring existing societies and proceedings to the Manipur Co-Operative Societies Act.
S. 166Section 166 of the Manipur Co-Operative Societies Act, 1976 regulates the winding up and management of insured co-operative banks, requiring Reserve Bank of India's approval and intervention.
S. 1984Section l2