Amendment status not verified — confirm the current text below against the official source.
(1) The management of every registered co-operative society shall vest in the Board of Directors or Managing Body of the cooperative society, except in the case of a co-operative society, which for administrative convenience necessitated by reasons such as wide area of operation, that responsibility shall vest in an Administrative Council. The Board of Directors, or Managing Body, Administrative Council and committees of a co-operative society shall be constituted in accordance with the bye-laws of the society which shall specify the composition of such bodies, their powers, functions, duties, method of summoning meetings and procedures. (2) The Board of Directors or Managing Body of a co-operative society shall - consists of such number of directors as may be provided in Accordance with the bye-laws of the co-operative society: Provided that the maximum number of Directors of a co operative society shall not exceed twenty-one with a reservation of one seat for SC or ST and two seats for women on the Board or Managing Body of every co-operative society consisting of individuals as members and having members from such class or category of persons. (3) 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 coterminous with the term of the board: Provided that the board or managing body may fill a casual vacancy of the board by nomination out of the same class of members in respect of which the casual vacancy has arisen, if the term of office of the board is less than half of its original term. (4) The General Assembly of a co-operative society may co-opt persons or professionals to be members of the Board or Managing Body having experience in any field relating to the objects and activities undertaken by the co-operative society: Provided that the number of such co-opted members shall not exceed two in addition to twenty one directors specified in the proviso to sub-section (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 member or to be eligible to be elected as office bearers of the board:Provided 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 proviso of sub-section (2). (5) The election to the Board or Managing Body of a Cooperative Society shall be conducted before expiry of the term of the board or managing body to ensure that the newly elected members of the board or managing body assumes office immediately on the expiry of the term of the office of members of the outgoing board. (6) The superintendence, direction and control of the preparation of electoral rolls for and the conduct of all elections to a Cooperative Society shall be vested with the Registrar of cooperative societies or any authorized person in this behalf: Provided, that the procedure and guidelines for the conduct of elections shall be prescribed by the State Government or the Registrar of Co-operative Societies.