Amendment status not verified — confirm the current text below against the official source.
Eligibility for a Director in Co-operative Society: Subject to such other conditions as may be specified in the Bye-Laws a member of a Co-operative Society shall be eligible for being chosen as a Director of the Co-operative Society, if- 1) Such member has the right to vote in the affairs of the Co-operative Society; 2) Such member has patronised the services of the Co-operative Society during the previous financial year to the extend and in the manner specified in the Bye-Laws and has attended at least two Annual General Meetings in the previous five years; 3) Such member has no pecuniary interest in any subsisting contract made with, or work being done for the Co-operative Society except as otherwise specified in the Bye-Laws. 4) The period of three years has elapsed from the data such member ceased to be a Director forthe following reasons:- a) Not conducting or wrongly conducting the Annual General Meeting under Section39 or Special General Meeting under sub-section(3) of Section 33 and Board meetings under sub-section (3) of Section 43; b) Non submission of Annual Report of activities, Annual Financial Statement of Accounts to the General Body; c) Non conducting the meeting of the Board under sub-section (3) of Section 43 delegates or representative under sub-section (3) of Section 41; 588 d) Absence from Board Meetings under sub-section (7) of Section 43; e) Automatic dissolution under sub-section (3) of Section 41; f) For failure to take follow up action on Audit Report as specified in Section 80. 5) Such members are free from default of any payment due to the society.