Amendment status not verified — confirm the current text below against the official source.
(1) The management of every society shall vest in a committee, constituted in accordance with this Act, the rules and the bye-laws, which shall exercise such powers and perform such duties as may be conferred or imposed respectively by this Act, the rules and the bye-laws. (2) Notwithstanding anything contained in any provision of this Act, rules or bye- laws, election of the members of a committee shall be by secret voting method in the manner prescribed. “(3) The total elected members in a committee of a cooperative credit structure society shall not be exceeding 5 (five).”*1 “Provided that, other than the cooperative credit structure society, total elected members in a committee of a cooperative society shall not exceed eleven; Provided further that, in a elected committee of a cooperative society including the credit structure society consisting of individuals as members and having members from such class or category of person, one seat for Scheduled Caste or the Scheduled Tribe and two seats for women shall be reserved.”*2 ------------------------------------------------------------------------------------------------------------------------- *1 Sub section (3) inserted by TCS (Second Amendment) Act 2009 *2 Provisos are inserted by TCS (Third Amendment) Act,2016. “4) The committee of a cooperative credit structure society shall, ninety days before the expiry of its term, make arrangements for the constitution of a new committee in accordance with the provisions of this Act and rules and bye-laws made there under falling which the Registrar shall arrange to hold such Final authority of society Committee its powers and functions 35 elections within a period of sixty days after the expiry of the term of the committee at the cost of the society. 5) There shall be at least such number of professionals having special knowledge or experience in such fields as may be stipulated from time to time by the Reserve Bank on the committee of the State Co-operative Bank and in case such number of elected directors do not, in the opinion of Reserve Bank or National Bank, possess special knowledge or experience in such fields as may be stipulated by the Reserve Bank, the committee of the State Co-operative Bank, shall co-opt such number of professionals with full voting rights irrespective of :- (i) the limit on the number or members of the committee under this Act or rules framed there under or its bye-laws; (ii) Whether such professional is a member of the Society or not. (6) If any person who, in the opinion of the Reserve Bank, has been co-opted as a member of the committee under sub-section (5) without having requisite knowledge or experience as stipulated by the Reserve Bank, he shall, on being advised by the Reserve Bank or the National Bank, be removed from the office after giving him a reasonable opportunity of being heard” *1.