Section 14(4)(iii) in The Bihar Co-operative Societies Act, 1935
(iii)Where the share of the State Government in the share capital of such registered society exceeds sixty per cent, the State Government shall have the right to nominate upto two-third of the total number of members of the Managing Committee including the Chairman, and such right once accrued shall continue until the share of the State Government in the share capital of the registered society goes down to less than fifty-five per cent: