Section 50 in The M.P. Swayatta Sahakarita Adhiniyam, 1999
50. Accounts, records and documents to be maintained.
(1)Every co-operative shall keep at its head office, the following accounts, records and documents, namely :-(a)a copy of this Act with amendments made therein from time to time;(b)copies of other laws and regulations to which the co-operative is a subject;(c)a copy of its bye-laws, with amendments made therein from time to time;(d)a copy of the regulations framed under clause (g) of Section 35 and amendments made therein from time to time;(e)the minutes books;(f)account of all sums of money received and expended by the co-operative and their respective purposes;(g)account of all purchases and sales of goods by the co-operative;(h)account of the assets and liabilities of the co-operative;(i)a list of members, their fulfilment of responsibilities over the previous financial year, their eligibility to exercise their rights for the current twelve month period updated within sixty days of closure of the financial year; and(j)all such other accounts, records and documents as may be required by this Act or other laws and regulations or bye-laws of the co-operative :Provided that where a co-operative has branch offices, summarised statements of accounts relating to such branch office, shall be available at the head office for each quarter of financial year, within fifteen days of the end of that quarter.(2)The books of account and records shall be opened to inspection by any director during office hours of the co-operative.(3)The copies of this Act, bye-laws, regulations, minutes book of the general body, voters list and such account and records of transactions that relate to a member shall be made available to any member during office hours of the co-operative.(4)The books of accounts relating to a period of at least eight years before the current financial year together with supporting records and vouchers shall be preserved unless otherwise require for a longer period.
