Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Entire Act]

State of Meghalaya - Section

Section 15 in The Meghalaya Co-operative Societies Rules

15. Exercise of rights of membership.

(1)No member of a society shall exercise the rights of a member unless and until he has made such payments to the society in respect of membership or acquired such interest in the society as may be prescribed in the bye-laws, subject to the following conditions :
(a)Application fee. - Every applicant for admission as a member must agree to pay an application fee as may be prescribed in the bye-laws; but such fee shall not be less than eight annas or exceed two rupees.
(b)Every applicant for admission as a member must also agree to pay such admission fee as may be prescribed in the bye-laws. Such fee shall not be less than one rupee where the applicant is an individual and five rupees where the applicant is a registered society.
(c)Where the capital is to be raised by the issue of shares, each member must agree to subscribe to at least one share or the minimum number of shares as prescribed in the bye-laws and has paid the dues on account of such share or shares as required under the provisions of the bye-laws.
(2)No person shall be accepted as one of the applicants for the registration of a society or admitted as a member-
(a)who does not satisfy the requirements of the Act and Rules ; or
(b)who is legally or mentally disabled ; or
(c)who is a bankrupt; or
(d)who is convicted of a criminal offence, involving moral turpitude.
(3)No person who has ceased, within a period of four years to be a member of any society with unlimited liability shall be allowed to be a member of another society with unlimited liability, without special permission of the Registrar.
(4)Any member who may, at any time, be found disqualified for any of the reasons in Clauses (2) and (3) above shall be removed from the society.
(5)In cases of any doubt, the Registrar shall decide whether a person is or is not eligible as an applicant for registration on liable to be removed from the society.