Section 61 in The Karnataka Souharda Sahakari Act, 1997
61. Employees of the Federal Co-operative.
(1)The Board of Federal Co-operative shall determine the cadre strength of the establishment and scales of pay of its employees:Provided that the Federal Co-operative may borrow the services of the employees of other Co-operatives, Co-operative societies, State or Central Government or their Organisations, Public Sector Undertakings and such other professional experts on such terms and conditions as may be approved by the general body:Provided further that the first Chief Executive shall be appointed by the Registrar.(2)The Chief Executive shall perform functions in accordance with the bye-laws and shall,-(a)have general superintendence and control over the day to day affairs of the Federal Co-operative.(b)be the person to sue and be sued on behalf of the Co-operative;(c)have powers on behalf of the Federal Co-operative to endorse, sign, negotiate cheques and other negotiable instruments and operate the bank accounts of the Federal Co-operative;(d)be responsible for appointment of employees and to ensure discipline, performance and welfare;(e)be the person to enter into agreements or contracts on behalf of the Federal Co-operative;(f)arrange to maintain proper records and accounts of the Federal Co-operative;(g)present the draft annual report and financial statements for the approval of the board within the time stipulated in the bye-laws;(h)convene the board meetings and general body meetings in consultation with the President or Chairperson, in accordance with the bye-laws and record the proceedings thereof;(i)assist the board in the formation of policies and plans;(j)be responsible to the board;(k)furnish to the board information necessary for monitoring the performance of the Federal Co-operative;(l)[ furnish the financial statements, schedules and other statements with the approval of the board and the related books of accounts, records and other documents necessary for the annual audit of accounts of the Federal cooperative to the auditor within the thirty days from the close of the cooperative year; [Substituted by Act 4 of 2013 w.e.f. 11.02.2013.](l-1) place before the board the action to be taken for rectification of defects pointed in the audit report, obtain approval of the board and take action accordingly.(l-2) place before the board the action to be taken for rectification of defects pointed in the inquiry report, if any, obtain approval of the board and take action accordingly.(l-3) render necessary information and assistance to the cooperative election commission for conduct of elections before the term of expiry of the board.(l-4) furnish to the Registrar within the thirtieth day of September every year, the returns and information to be submitted as per section 64A to the Registrar.](m)perform any other function authorised by a resolution of the board and general body.
