Section 115D(3) in Andhra Pradesh Co-Operative Societies Act, 1964
(3)(a)The State Government's equity in a Co-operative Credit Society shall not exceed 25% of the paid up share capital. The State Co-operative Credit Society may reduce the State equity further at its choice.(b)There shall be only on Government nominee on the Managing Committee of the Andhra Pradesh State Co-operative Bank/District Co-operative Central Bank as long as the equity of Government continues and there shall be no Government nominee on the Managing Committee of a Primary Agricultural Co-operative Credit Society:Provided that the existing nominee(s) on the Managing Committee shall continue till the expiry of the current term. However, they shall not have any voting right in any election or in the motion of no confidence.
