The Nagaland Co-operative Societies Act, 2017
nagaland · 2017
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1Section 1 allows registered societies to divide into two or more societies, detailing the process and member/creditor rights.
- S. 2Section 2 defines key terms used in the Nagaland Co-operative Societies Act, 2017, such as "Administrator," "Affiliated Society," and "Bye-Laws."
- S. 3The Nagaland Co-operative Societies Act, 2017 allows the State Government to appoint a Registrar and assistants for co-operative societies' registration and development.
- S. 4Section 4 allows the Reserve Bank to appoint an administrator for a Co-operative Bank and makes certain orders immune from legal challenge.
- S. 5Section 5 orders payment of a specified sum with interest and costs to a named party.
- S. 6Section 6 outlines the structure, eligibility, duties, and responsibilities of the Board of Directors for Nagaland Co-operative Societies.
- S. 7Section 7 mandates prosecution for non-payment within 30 days, as per Section 112(6).
- S. 8Section 8 outlines the financial and governance procedures for Nagaland Co-operative Societies, including capital, audits, and member liabilities.
- S. 9Section 9 mandates that co-operative societies must create and adhere to their own bye-laws for managing internal affairs.
- S. 10Section 10 outlines procedures for making bye-laws, arbitration, society dissolution, language use, and loan refunding for Nagaland Co-operative Societies.
- S. 11Section 11 outlines the Registrar's role in approving and registering cooperative societies and their bylaws.
- S. 12Section 12 provides that a Registrar-signed certificate of registration is conclusive proof of a Society's valid registration and its attached Bye-Laws.
- S. 13Section 13 outlines the process for amending the bye-laws of a registered cooperative society in Nagaland, requiring approval and registration by the Registrar.
- S. 14Section 14 allows the Registrar, affiliating society, or financing bank to direct amendments to a society's Bye-Laws or procedural rules.
- S. 15—
- S. 16location of Head Office: (1) Every Co-operative Society shall specify the full address of its head office in its Bye-
- S. 17Section 17 outlines the fees for registration and services provided by the Registrar for co-operative societies.
- S. 18Eligibility of membership in Co-operative Society
- S. 19Section 19 disqualifies individuals from joining or remaining in a Co-operative Society if they meet specified disqualification criteria in the Bye-Laws.
- S. 20Admission on members
- S. 21Withdrawal of membership
- S. 22Cessation of membership
- S. 23Termination of membership
- S. 24Register of members
- S. 25Section mandates co-operative societies to allocate budget for member education, staff training, and contribute to state union for cooperative education.
- S. 26Section 26 outlines members' voting rights and responsibilities in Nagaland Co-operative Societies, including preparation of voting lists and appeal processes.
- S. 27Votes of member and manner of exercising vote:
- S. 28Section 28 extends a past member's liability for society debts for five years after they leave.
- S. 29Section 29 outlines the composition and voting rights of the General Assembly in a Nagaland Co-operative Society.
- S. 30Section 30 outlines matters to be discussed at the Annual General Meeting of Nagaland Co-operative Societies, including director elections, budget reviews, and financial reports.
- S. 31Term of the Board: The term of the Board shall be three co-operative years
- S. 32General meeting: The Board may, at anytime, call a General Meeting of the members of the Co- operative Society
- S. 33Section 33 mandates the Board to call a Special General Meeting within 45 days if requested by at least 25% of voting members or the Registrar, or Directors lose their positions if not held.
- S. 34Section 34 specifies the quorum requirements and adjournment procedures for General Assembly and Delegate General Body Meetings of Nagaland Co-operative Societies.
- S. 35Board: 1) There shall be a Board for the management of every Co-operative Society registered under this Act
- S. 36Section 36 outlines the election, resignation, removal, and acting roles of the President and Vice President in a Nagaland Co-operative Society.
- S. 37Section 37 bars individuals from board or council membership if they are insolvent, convicted of moral turpitude, involved in contracts with the society, or defaulters.
- S. 38Section 38 outlines the powers and functions of the Board of a Nagaland Co-operative Society, including planning, staffing, and financial management.
- S. 39Section mandates annual general meetings for co-operative societies and board dissolution for non-compliance.
- S. 40Section 40 outlines eligibility criteria for members to become directors in a Nagaland Co-operative Society.
- S. 41Section 41 outlines the process for electing Directors and Delegates for Nagaland Co-operative Societies, including responsibilities of the Board and consequences of non-compliance.
- S. 42Terms of Directors: 1) The term of office of the Directors shall be three Co-operative Years
- S. 43Section 43 outlines the procedures for calling and holding board meetings, special meetings, and consequences for non-compliance.
- S. 44Section 44 outlines how decisions are made by majority vote in meetings, with a casting vote for ties except in elections.
- S. 45Section 45 mandates cooperative societies to record meeting proceedings in specified languages and submit them to the Registrar for approval.
- S. 46Vacancies etc
- S. 47Section presumes validity of society meetings unless proven otherwise, except for Annual General Meetings needing Registrar approval.
- S. 48The State Government can assign government officials to manage a Co-operative Society's affairs.
- S. 49Chief Executive, his/her powers and functions and staff: 1) (a) there shall be a Chief Executive, by whateve
- S. 50Section 50 ensures each member has one vote in society affairs, with special provisions for affiliated societies and voting representatives.
- S. 51Section 51 mandates that loans from a cooperative society must be used for specified purposes, with penalties for misuse.
- S. 52Section 52 limits the transfer of shares in a Registered Society to prescribed maximum holding conditions.
- S. 53Section 53 specifies that a member's transfer or charge of shares in a Nagaland Co-operative Society is valid only if held for at least one year and transferred to a member or accepted applicant.
- S. 54Section 54 protects members' shares or interests in a cooperative society from court attachment or sale for personal debts.
- S. 55Section allows members to nominate a transferee for their shares if society's bye-laws permit.
- S. 56Section 56 outlines the process for transferring a deceased member's shares and interest in a Registered Society.
- S. 57Section 57 outlines the procedure for transferring or valuing shares of a ceased member in a Nagaland cooperative society.
- S. 58Section 58 makes members jointly and severally liable to contribute to any asset deficiency upon society winding up, with limits for limited liability societies.
- S. 59Section 59 restricts land transfer by society members to the society or another member, with specific rules for inheritance and society acquisition.
- S. 60Section 60 allows a registered society to pay prior debts of a mortgagor and require debtors to pay the society instead.
- S. 61Section 61 restricts mortgaged property transfers and outlines consequences for defaulting on mortgage payments, including potential sale by the society.
- S. 62Section 62 ensures payments and transfers by a registered society are valid against claims from other individuals.
- S. 63—
- S. 64Section 64 limits a registered society's borrowings to 25 times its paid-up share capital and accumulated reserved fund.
- S. 65Limits a member's equity capital holding in a cooperative hall to one-tenth of the total or as specified in bylaws.
- S. 66Section 66 outlines how a cooperative society in Nagaland must distribute its surplus funds among various reserves, rebates, and funds for employee bonuses and other purposes.
- S. 67Section 67 requires the Board to report deficits to the General body and prohibits member withdrawal without clearing the deficit.
- S. 68Section 68 allows a cooperative to establish reserves and funds for its promotion, using them for their intended purposes or business needs.
- S. 69Section 69 allows a Nagaland Co-operative to invest surplus funds in various banks or other specified securities.
- S. 70Section 70 prohibits Nagaland Co-operative Societies from contributing to political parties or religious institutions.
- S. 71Section 71 mandates cooperatives to annually contribute to the Co-operative Education Fund at a prescribed rate, with failure to pay treated as land revenue arrears.
- S. 72Section 72 prohibits Nagaland Co-operatives from lending to members using their shares as collateral, except for loans to depositors secured by their deposits.
- S. 73Section 73 restricts cooperative society transactions with non-members based on specified conditions in the bye-laws.
- S. 74Section 74 mandates co-operatives with more than a certain number of employees to maintain a separate Provident Fund, exempting it from business use and legal claims.
- S. 75The Nagaland Co-operative Societies Act allows the State Government to provide financial assistance to co-operative societies upon request.
- S. 76Section 76 mandates annual audits by the Registrar and grants auditors access to society records and properties.
- S. 77Section 77 allows the Registrar to have incomplete society accounts completed, with initial costs reimbursed later by the society.
- S. 78Section 78 details the comprehensive audit requirements for Nagaland Co-operative Societies, including verification of assets, liabilities, and compliance with the Act.
- S. 79Section 79 mandates the Audit Officer to submit a detailed audit report to the society and Registrar, highlighting any legal, financial, or operational discrepancies.
- S. 80Section 80 mandates co-operatives to correct audit-revealed defects and report to the Registrar, with Registrar's authority to enforce further actions.
- S. 81Section 81 allows the Registrar to order re-audit or recasting of accounts if needed, but not after three years, and imposes costs and penalties on auditors or officers for non-compliance.
- S. 82Inquiry-
- S. 83Section 83 allows the Registrar to inspect a cooperative's constitution, financial condition, and status on various grounds.
- S. 84Section 84 outlines how the Registrar can allocate costs of inquiries and inspections to cooperatives, members, creditors, debtors, or depositors.
- S. 85Section 85 allows the Registrar to apply to a magistrate to recover awarded costs as if it were a fine.
- S. 86Section 86 allows the Registrar to initiate surcharge proceedings against delinquent officers or members for financial misconduct or negligence.
- S. 87Prohibition of use of word Co-operative and Penalty
- S. 88Section 88 penalizes false or misleading reporting under the Nagaland Co-operative Societies Act, 2017, with fines and imprisonment for individuals and entities.
- S. 89The Registrar can summon individuals and demand documents during inquiries, inspections, or surcharge proceedings.
- S. 90Section 90 mandates disputes in registered societies to be referred to the Registrar for resolution, except those concerning disciplinary actions.
- S. 91Section 91 outlines the Registrar's role in settling disputes by deciding, referring to arbitrators, or attaching property to prevent disposal.
- S. 92Section 92 outlines the process for the cancellation of a cooperative society's registration in Nagaland.
- S. 93Section 93 of the Nagaland Co-operative Societies Act, 2017 appoints a Liquidator to manage a society's assets and affairs upon its cancellation.
- S. 94Section 94 outlines the distribution of funds from a dissolved cooperative society in Nagaland, prioritizing liabilities repayment and public utility allocation.
- S. 95Section 95 mandates the liquidator to submit a final report and deposit records upon winding up a society, with the Registrar closing proceedings and publishing closure.
- S. 96Disposal of surplus assets of liquidation Co-operative Societies
- S. 97Section 97 prohibits legal proceedings against a liquidated cooperative society without the Registrar's permission.
- S. 98Section 98 outlines the process for a Liquidator to finalize accounts, distribute remaining assets, and dissolve a Co-operative Society.
- S. 99Section 99 restricts civil court involvement in society dissolution and limits liquidator legal actions to Registrar's approval.
- S. 100Section 100 allows the recovery of dues from defaulting members through certificates and distraint of charged land produce.
- S. 101Section 101 allows the Registrar to investigate misconduct by members or officers of a cooperative society if they breach rules or misappropriate funds.
- S. 102Punishment for false information, disobeying summons, order etc
- S. 103Section penalizes members or their representatives for disposing society-charged property to defraud the society, with fines up to Registrar's discretion.
- S. 104Section penalizes members for unauthorized voting or misusing loans, directing fines to society's assets.
- S. 105Section 105 allows the Registrar to compel responsible society officers to pay fines for delays in fulfilling obligations.
- S. 106Cognizance of Offence: (1) No court inferior to that of a Magistrate of the first class shall try any offence under t
- S. 107Section 107 protects the Registrar and liquidators from legal actions for actions done in good faith under the Act.
- S. 108Section 108 bars civil courts from having jurisdiction over certain cooperative society matters and prevents court challenges to decisions under the act.
- S. 109Appeal of review
- S. 110Section 110 authorizes the Registrar to attach property to prevent its disposal or removal to avoid co-op society dues.
- S. 111Section 111 designates the Registrar as a Civil Court for property recovery under the Nagaland Co-operative Societies Act.
- S. 112Section 112 outlines the recovery process for dues under the Nagaland Co-operative Societies Act, 2017, treating them as land revenue or public demand.
- S. 113Section 113 allows the Registrar to convene creditor meetings to approve compromises or arrangements between a society and its creditors.
- S. 114Section 114 mandates RBI or NABARD's written approval for certain changes in co-operative banks and urban co-operative banks.
- S. 115Section 115 establishes that every registered Co-operative Society is a body corporate with perpetual succession and legal powers.
- S. 116Section 116 establishes that a society's register of members serves as prima facie evidence of membership dates.
- S. 117Certified copies of registered society's books serve as prima facie evidence in legal proceedings.
- S. 118Section 118 preserves existing societies' registrations and operations under the old act until altered under the new Nagaland Co-operative Societies Act.
- S. 119Acts of societies etc
- S. 120The Nagaland Co-operative Societies Act, 2017 allows the State Government to order societies to contribute annually to recoup government administrative costs.
- S. 121Section 121 allows the Registrar to supersede a negligent or defaulting Board of a Co-operative Society and appoint administrators to manage its affairs for up to six months.
- S. 122Section 122 empowers the Registrar to seize society records if there's suspicion of improper record-keeping or fund misuse.
- S. 123Section 123 allows members of an affiliating society's managing body to investigate a member society's accounts if it defaults on a loan.
- S. 124Section 124 extends the limitation period for claims against dissolved societies and exempts certain debts from the Indian Limitation Act.
- S. 125Section 125 mandates annual filing of detailed financial and operational reports by Nagaland Co-operative Societies to the Registrar.
- S. 126Section 126 empowers the Nagaland government to create rules for the Act, with penalties up to ₹5,000 for violations.
- S. 127Repeal: The Assam Co-operative Societies Act, 1949 (Assam Act 1 of 1950) as enforced in Nagaland is hereby repealed
- S. 561Section defines key terms related to the management and dissolution of Nagaland Co-operative Societies.