Section 8 in Punjab Self-Supporting Co-operative Societies Act, 2006
8. Bye-laws.
(1)Every self-supporting co-operative society shall make its bye-laws and shall function and be managed in accordance with the bye-laws.(2)Subject to the provisions of this Act, the bye-laws made under sub-section (0, shall provide for the following matters, namely:-(i)the name, address and area of operation of the self-supporting co-operative society;(ii)the object of the self-supporting co-operative society explicitly stating the provisions of core service to fulfil such common needs of the members, as the said society aims to fulfil;(iii)eligibility, ineligibility and procedure for obtaining and retaining membership;(iv)procedure for withdrawal, cessation and termination of membership;(v)the services intended to be provided to the persons. who are not members;(vi)fixation of minimum performance expected annually from each member in respect of use of services, financial commitment and participation in meetings, in order to be eligible to exercise the right to vote and the consequences of performance, below the expected norms;(vii)the consequences of default in payment of any sum due from a member(viii)rights and duties of members;(ix)the nature and extent of the liability of the members for the debts of the self-supporting co-operative society;(x)the powers and functions of the general body:(xi)the powers and functions of the delegate general body;(xii)the subjects, which may be dealt with by the general body and the delegate general body;(xiii)the manner of convening the meetings of the general body and quorum required for meeting;(xiv)the size and composition of the Board or the sub-committee, as the case may be;(xv)the manner of conducting the election of the Board and filling up casual vacancies of the Board;(xvi)the term of office and manner of removal of the Directors;(xvii)the manner and frequency of convening the meetings of the Board and quorum required for a meeting;(xviii)the powers and duties of the Board;(xix)the powers and duties of the Chairperson of the Board;(xx)the terms on which the self-supporting co-operative society may deal with a non-member;(xxi)eligibility and ineligibility for becoming or continuing as a Director:(xxii)the penalties for acting against the interest of the self-supporting co-operative society and for non-fulfilment of duties by members, office bearers, directors and staff;(xxiii)the nature and extent of the liability of officers and members for debts contracted by the self-supporting co-operative society;(xxiv)the authorization of an officer or officers to sign documents and to institute and defend suits and other legal proceedings on behalf of the self-supporting co-operative society;(xxv)the manner of choosing delegates to federal self-supporting co-operative societies;(xxvi)the rights, if any, which the self-supporting co-operative society intends to confer on any other self-supporting co-operative society and the circumstances under which these rights may be exercised by such society;(xxvii)the nature and extent of capital, if any, of the self-supporting co-operative society;(xxviii)the maximum share capital which a single member can hold;(xxix)the maximum return to members on paid-up share capital;(xxx)the source. type and extent of funds to be raised by the self-supporting co-operative society;(xxxi)the purposes for which the funds may be applied:(xxxii)the constitution of various funds and their purposes;(xxxiii)the functions and powers of the sub-committee;(xxxiv)the manner of appointment of auditors and their powers and functions;(xxxv)the manner of disposal of funds in the event of liquidation of self-supporting co-operative society;(xxxvi)the manner of constitution and functioning of arbitration council;(xxxvii)the manner of liquidation of the self-supporting co-operative society;(xxxviii)distribution of profits; and(xxxix)other matters which are identical or incidental and are required to be provided in the bye-laws.
