Section 53 in West Bengal Co-operative Societies Rules, 2011
53. Duties of the Board.
The Board shall observe, in all their transactions the provisions of the Act, rules and bye-laws and shall cause to perform the fallowing duties, namely(a)to receive and disburse money;(b)to maintain true accounts of money received and expended and accounts of the assets and liabilities;(c)to prepare for submission to the Annual General Meeting(i)an annual report on the working of the society;(ii)an annual statement of accounts including a Balance Sheet;(iii)a statement of loans and defaults and appointments as required under clauses (g) and (h) of sub-section (5) of section 29;(d)to prepare the statements of accounts required for audit and to place those along with relevant vouchers and other connected papers before the auditors;(e)to prepare and submit all statements and returns in prescribed forms and in such other forms as may be required by the Registrar or the federal societies and other appropriate authorities;(f)to enter accounts of the society regularly in proper books;(g)to maintain register of members up-to-date;(h)to facilitate the inspection of books by those entitled to inspect them;(i)to watch that the loans and advances are utilized for the purposes for which those are meant and that those are duly repaid;(j)to take prompt action for realization of loans and advances;(k)to create awareness amongst the members in the affairs of the society;(l)to conduct business with utmost transparency:(m)to prepare data base of the society;(n)to prepare Business Development or Development Action Plan;(o)to prepare code of conduct of the members of the Board;(p)to prepare Loan Policy on all types of loans, Asset Liability Management Policy, Investment Policy and other policies required to formulate in the interest of the society; and(q)to perform such other duties as may be entrusted by the general meeting subject to the provisions of the Act, Rules and bye-laws made thereunder.
