CAP. 33]
Qualification
for
membership.
Members
not to exercise rights till
due payment made.
Restriction of membership in society.
Votes of members.
Representation by proxy.
Contracts with society of members
who are minors.
Co-operative Societies.
PART IV.
RIGHTS AND LIABILITIES OF MEMBERS.
21. In order to be qualified for membership of a co-operative society a person, other than a registered society,
must-
(a) have attained the age of 18 years;
(b) be resident within or in occupation of land within the society's area of operations as described by the by-laws.
22. No member of a registered society shall exercise the rights of a member unless or until he has made such payment to the society in respect of membership or acquired such interest in the society, as may be prescribed by the rules or by-laws.
23. Except with the sanction of the Registrar, no person shall be a member of more than one registered society whose primary object is to grant loans to its members.
24. No member of any registered society shall have more than one vote in the conduct of the affairs of the society: Provided that in the case of an equality of votes the chairman shall have a casting vote: Provided also that in the case of societies of which a registered society is a member that society may have such voting powers as are provided in the rules.
25. A registered society which is a member of any other registered society may appoint any one of its members as its proxy for the purpose of voting in the conduct of the affairs of such other registered society.
26. The minority or non-age of any person duly admitted as a member of any registered society shall not debar that person from executing any instrument or giving any acquittance necessary to be executed or given under this Ordinance or the rules made thereunder, and shall not be a ground for invalidating or avoiding any contract entered into by any such person with the society; and any such contract entered into by any such person with the society, whether as principal or as surety, shall be enforceable at law or against such person notwithstanding his minority or non-age.
262
Page 10
CAP. 33]
Qualification
for
membership.
Members
not to exercise rights till
due payment made.
Restriction of membership in society.
Votes of members.
Representation by proxy.
Contracts with society of members
who are minors.
Co-operative Societies.
PART IV.
RIGHTS AND LIABILITIES OF MEMBERS.
21. In order to be qualified for membership of a co-operative society a person, other than a registered society,
must-
(a) have attained the age of 18 years;
(b) be resident within or in occupation of land within the society's area of operations as described by the by-laws.
22. No member of a registered society shal! exercise the rights of a member unless or until he has made such payment to the society in respect of membership or acquired such interest in the society, as may be prescribed by the rules or by-laws.
23. Except with the sanction of the Registrar, no person shall be a member of more than one registered society whose primary object is to grant loans to its members.
24. No member of any registered society shall have more than one vote in the conduct of the affairs of the society: Provided that in the case of an equality of votes the chairman shall have a casting vote: Provided also that in the case of societies of which a registered society is a member that society may have such voting powers as are provided in the rules.
25. A registered society which is a member of any other registered society may appoint any one of its members as its proxy for the purpose of voting in the conduct of the affairs of such other registered society.
26. The minority or non-age of any person duly ad- mitted as a member of any registered society shall not debar that person from executing any instrument or giving any acquittance necessary to be executed or given under this Ordinance or the rules made thereunder, and shall not be a ground for invalidating or avoiding any contract entered into by any such person with the society; and any such contract entered into by any such person with the society, whether as principal or as surety, shall be enforce- able at law or against such person notwithstanding his minority or non-age.
262
Page 10!
No comments yet.
Private notes are available after approval.