Amendment status not verified — confirm the current text below against the official source.
Chief Executive, his/her powers and functions and staff: 1) (a) there shall be a Chief Executive, by whateve.r designation called of every Co-operative Society to be appointed by the board or by the State Government and shall be a full time employee of such Society; (b) The Chief Executive shall be the ex-officio member of the Board; (c) Where the State Government stands guarantee for repayment of any loan secured from any financial institution the Chief Executive may be appointed by the State Government and salary and allowances payable to and otherterms and conditions of service including pension, gratuity and other benefits of the Chief Executive shall be prescribed by the Government; (d) Notwithstanding anythingcontained in any law inforce or Bye-Laws of the society, the chief executive appointed by the Government shall have full administrative control over the employees of the society in all matters including transfer, posting and disciplinary action. However, in case of dismissal of employees approval of the Board shall be necessary. 2) The Chief Executive shall be under the general superintendence, direction and control of the Board and exercise the following powers and the functions, namely: a) Day to day management of the business of the Co-operative Society; b) Operating the accounts of the Co-operative Society and be responsible fOr making arrangements for safe custody of cash; c) Signing on the documents for and on behalf of the Co-operative Society; 594 / ci) Making arrangements for the proper maintenance of various books and records of the Co-operative Society and for the correct preparation, timely submission of periodical statements and returns in accordance with the provisions of this Act, the rules and the Bye-Laws; e) Convening meetings of the General Body of the Co-operative Society, the Board and the Executive Committee and other committee or sub- committee constituted under provisions of this Act and Bye-Laws and maintaining proper records for such meetings; f) Making appointments to the post in the Co-operative Society in accordance with the Bye-Laws g) Assisting the Board in the formulation of policies, objectives and planning; h) Furnishing to the Board periodical information necessary for appraising the operations and functions of the Co-operative Society; I) To sue or be sued on behalf of the Co-operative Society; .1) Present the draft annual report and financial statements for the approval of the board within thirty days of closure of the Co-operative Year; k) Performing such other duties and exercising such powers as may be specified in the Bye-Laws of the Co-operative Society; I) In case of dispute between the Chief Executive and the Board in any matter, the decision of the Registrarshall be bindingon the both.