Section 102(4) in The Delhi Co-operative Societies Rules, 2007
(4)On approval of the aforesaid charges under sub- rule (1) and sub-rule (2), the committee shall provide a schedule of demand payable by each member and the residents after the approval of the general body and thereafter either monthly or quarterly by a specified date which should be reasonable but not less than fifteen days to make payment of demand. Monthly or quarterly demand as the case may be, shall also be displayed on the notice board of the co-operative housing society. On failure to make payment on demand by the specified date by a member or the resident, as the case may be, the committee shall charge a simple interest not exceeding fifteen-percent per annum which shall also be fixed by the general body. Demand shall also contain extracts of sub-section (2) of section 89 of the Act relating consequences of default and resultant action against a member or resident in case of default in payment.
