Section 54 in Mizoram Cooperative Societies Act, 2006
54. Powers and functions of the board of directors.
(1)The board of management committee shall, in accordance with the byelaws, have the authority(a)admit new members in accordance with section 26 and 27;(b)elect the chairperson and other office bearers of various committee meetings;(c)remove the chairperson and other office bearers of various committee meetings from office for reasons to be recorded in writing after following the due procedure required under law, rules or bye-laws;(d)appoint and remove the chief executive of co-operative for reasons to be recorded in writing after following the due procedure required under law, rules or bye-laws;(e)fix staff strength in proportion to the volume of business of cooperative as determined or prescribed by concerned statutory regulatory authority, if any;(f)frame policies concerning:(i)the organisation and provision of service to members;(ii)prescription of qualifications, experience, method of recruitment, service conditions and other staff related matters;(iii)the mode of custody, mobilisation, utilization and investment of funds; (iv) method and manner of keeping books on accounts;(v)monitoring and creation, prescription and maintenance of management information systems including statutory returns to be filed;(g)place the annual report, annual financial statement of accounts of accounts, plan and budget for the approval of general body;(h)consider audit and compliance reports and place the same before the general body;(i)review membership in other s;(j)undertake such other subjects and matters necessary for the effective performance of the co-operative including functions as delegated by the general body;(k)terminate membership under section 35(2) and confirm termination of membership under section 35(1).(2)The Chairperson and other office bearers as may be prescribed in the bye- laws shall be elected by the board members from among the elected members within seven days from the date of declaration of election results in accordance with the byelaws and the chairperson shall :-(a)preside over meetings of the board and the general body;(b)have a second vote in the event of equality of rotes on any matter being decided upon by the board except in the matters relating to the conduct of election;(c)exercise such other powers as delegated by the board specified in the policies framed or resolutions adopted by the board.
