Section 7 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
7. Procedure for Enrolment of membership.
- Any person intending to be enrolled as member of the Bank shall make an application through the branch in writing in prescribed form and the Bank shall consider eligibility on the merit of the case. For intending borrowers including Co-operative societies it shall be obligatory to enrol themselves as members of the Bank through branches of their respective areas to which operation of such branch extends.(a)No such application shall be necessary by persons who have signed the application for registration of the Bank under the Co-operative Societies Act in force ;(b)Every such applicant shall pay along with the application the prescribed admission fee which shall be Rs. 10/- in case of other Co-operative Societies. The admission fee shall be non-refundable and non-transferable";(c)The Board may reject any application for membership or may allot a smaller number of shares then that applied for provided that it shall be competent for the Board to authorise the Chief Executive Director to exercise powers of the Board under this bye-laws ;(d)Due intimation of acceptance or refusal of membership and allotment shares shall be sent to each applicant within a fortnight of such decision.
