Section 6 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
6. Membership.
(1)Membership of the bank shall be open to-(a)Government;(b)Deleted.(e)All registered Co-operative Societies ;(d)All tenants qualified and eligible for loans under any land reform Act enacted by Government; from time to time ;(e)All other persons who are eligible for Government loans channelised through the bank and who are above 18 years of age. Competent to contract and have not been convicted of any offence involving moral turpitudes;(f)All other individual cultivators residing and holding Immovable property within the areas of operation of the bank and otherwise qualified.(2)Nominal Membership - The nominal membership of the Bank shall be open to-(a)All persons who are Co-applicants for loan ; Coperceners co-pattadars, lineal ascendants or descendants of the applicant and members of the family of the applicant and all other persons who have a right tile or interest in or upon the property of the applicant provided that such persons-(i)are above the age of 18 years ;(ii)are competent to contract; and(iii)have not been convicted in any offence involving moral turpitude;(b)Such nominal members shall hold at least one share, each of the value of which shall be Rs. 5.00 (Rupees five) only ;(c)Such nominal members shall have no right to vote, shall not be eligible for election or nomination as a member of any committee under these bye-laws;(d)Such share of Rs. 5.00 (Rupees five) only shall be non-refundable non-transferable and no dividend shall be paid on such shares.
