Section 31 in Uttarakhand Self Reliant Co-Operatives Act, 2003
31. functions and responsibilities of Board.
(1)The Board may perform functions and discharge responsibilities as specified in and in accordance with the terms, conditions and procedure laid down in the articles of association;Provided that the following functions and responsibilities shall be those of the Board;(a)to interpret the organizational objectives, to set up specific goals to be achieved towards these objectives, and to make periodic appraisal of operations;(b)to elect and remove office bearers;(c)to appoint and remove the chief executive;(d)to frame regulations for the appointment of all employees of the cooperative and the scales of pay, allowances and other conditions of service including disciplinary action;(e)to finalize long term perspective plan, annual plan and budget, and to direct the affairs of the co-operative in accordance with the plan and budget approved by the general body;(f)to make arrangements for the mobilization of funds;(g)to authorize acquisition and disposal of immovable property; and(h)to frame, approve and amend regulations relating to services, funds, accounts and accountability and information and reporting systems.(2)Every Director of a co-operative while performing functions, discharging responsibilities, and exercising powers shall:--(a)act honestly and in good faith and in the best interests of the co-operative; and(b)exercise such due care, diligence and skill as a reasonably prudent person would exercise in similar circumstances.(3)Any Director who is guilty of misappropriation, breach of trust or any other omission or commission, resulting in loss or shortfall in revenue to the cooperative, shall be personally liable to make good that loss or shortfall, without prejudice to any criminal action to which the Director may be liable under law.
