Section 31(1) in The Orissa Co-operative Societies Act, 1962
(1)Where the State Government or Central Government-(a)[ has subscribed to the share capital of a Society; or has granted any assistance in cash or in kind or in any other manner; or [Substituted by Orissa Act No. 5 of 1970 Section 8-See Orissa Gazette Extraordinary dated 5.3.1970.](b)has assisted indirectly in the formation or augmentation of the share capital of a Society as provided in Chapter VI; or](c)has guaranteed the repayment of principal and payment of interest on debentures issued by a Society; or(d)has guaranteed the repayment of principal and payment of interest on loans and advances to a Society;the State Government or the Central Government as the case may be, or any authority specified by such Government, in this behalf shall have the right to nominate one-third of the total number of members of the Committee of such Society;[Provided that the number of members so nominated shall, in no case exceed four, of whom, one shall be a representative of any of the Financing Banks of the Society, if any, and two shall be professionals.Explanation. - The term "professional" shall include the profession of Accountancy, Banking, Agriculture, Co-operation, Law and Economics.] [Substituted vide O.G.E. No. 1832 dated 27.12.2004. Section 6 (O.A. No. 11 of 2004).][Provided further that there shall be only one nominee of the State Government in the Committee of the State Co-operative Bank and the Central Co-operative Bank, if the State Government has any equity in the said institution, and there shall be no nominee of the State Government in the Committee of a Primary Agricultural Credit Co-operative Society. Large-sized Adivasi Multipurpose Co-operative Society, Service Co-operative Society and Farmers' Service Co-operative Society.] [Inserted by Orissa Act 1 of 2008 Section 12 (O.G.E. No. 654 dated 20.3.2008).]
