Section 57 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
57. Supreme Authority of General Assembly and its functions.
- The Supreme Authority of the Bank shall be vested in the General Assembly ; provided that during the pendency of any loan or service from Government or any other creditor secured at the instance of the Government the Supreme Authority in respect of any matter adversely affecting the interest of Government of the said creditor touching such loan or services shall be vested in the Government of Assam or Registrar or any person authorised by them in writing and may extend to the appointment of officers to hold any of the offices of the Bank including the Chief Executive Director and Executive Director or any person to be Ex-officio members of the Board or any other committee of the Bank even if not member of the Bank. The Government or the Registrar or the duly authorised person may fix the salary of such officer and declare it to be a charge on the Bank, provided that such salary may be borne by Government if and when they deem fit. The General Assembly shall not, however, interfere with the action of the Board done in the exercise of the power conferred on it by the bye-laws. The following among other matters, shall be dealt with General Assembly-(i)The election of the members of the Board and their removal ;(ii)The annual report of the Board reviewing the working of the Bank during the period ;(iii)The annual report and audited balance-sheet;(iv)Amendment to Bye-laws ;(v)To approve rate of fees or allowances as fixed by the Board of any, to be paid to members of the Board of Directors/Executive Committee and other committee, for attending meetings ;(vi)Passing the annual budget and approving the programme of work for the ensuing year ;(vii)Distribution of profits ;(viii)Consideration of any complaint which any member may prefer against the Board ;(ix)Fixation of maximum amount of liability to be incurred during the Co-operative year or until the next meeting of the General Assembly.
