Section 52 in The Chhattisgarh Co-Operative Societies Act, 1960
52. Power to appoint Government nominees.
(1)Where the State Government has subscribed to the share capital of a co-operative society, the State Government, as the case may be, or any person, authorized by the State Government, shall have right to nominate in the Board of Directors, such number of persons, as its member on the following basis, namely:-(a)where the total amount of issued equity share capital held by the State Government is less than twenty-six per cent of the total issued equity share capital, one member of the Board of Directors;(b)where the total amount of issued equity share capital held by the State Government is twenty-six per cent or more but less than fifty one per cent. Of the total issued equity share capital, two members of the Board of Directors;(c)where the total amount of issued equity share capital held by the State Government is fifty-one per cent or more of the total issued share capital, three members of the Board of Directors:Provided that the number of such nominated persons shall not exceed one-third of the total number of members of the Board of Directors:Provided further that where the State Government has guaranteed the repayment of Principal and Payment of interest on debentures issued by a Co-operative society or has guaranteed the repayment of Principal and payment of interest on loans and advances to a Co-operative society or has given any assistance by way of grants or otherwise to a Co-operative Society, the State Government as the case may be, or any person authorized by the State Government, shall have the right to nominate person on the Board of Directors of such a society in the manner as may be prescribed.(2)A person nominated on the committee of a society under sub-section (1) shall hold office for such period and on such conditions, as may be prescribed.(3)Notwithstanding anything contained in this Act, every person nominated on the committee of a society under sub-section (1) shall have one vote in such committee :Provided that nominated person shall not be entitled to vote in any election of the office bearers of the committee of the society.(4)When the Government has subscribed to the share capital of, or has guaranteed the repayment or principal and payment of interest on loans and advances to a society to the extent of rupees three lakhs or more and the society has incurred loss to the extent of twenty-five per cent or more of its owned capital, the State Government may, notwithstanding anything contained in this Act, the rules made thereunder or bye-laws of the society, nominate one of the members nominated by it under sub-section (1) as Chairman of the Committee of the Society and further appoint one of the nominated members as Managing Director/General Manager/Manager of the society.Explanation. - The replaced Chairman shall continue to be a Director inn the Board.Explanation. - For the purposes of this sub-section, if any person holding a specified office mentioned in this sub-section resigns such office at any time during any term, he shall on his resignation be deemed to have completed his term of office.(5)Notwithstanding anything contained in this section,-(a)in the case of co-operative credit structure the share capital of the State Government shall not be more than twenty five percent of the issued equity share capital;(b)in the case of Co-operative Bank, if the State Government has contributed to the share capital of the bank, there shall be only one nominee of the State Government in the Board of Directors of the Bank;(c)there shall be no nominee of the State Government in the Board of Directors of Primary Agriculture Credit Co-operative Society.
