Section 59(2) in The Goa Co-operative Societies Act, 2001
(2)The term of office of the board of directors elected after the commencement of the Goa Co-operative Societies Act, 2001 shall be five years from the date of its election:Provided that where in terms of the provisions of the bye-laws of a society one-third members of its committee or board of directors retire every year, the term of office of such a committee or board shall, after the commencement of the Goa Co-operative Societies Act, 2001 expire on the date on which retirement of any of its one- third members falls for the first time.
