Section 40 in Punjab Self-Supporting Co-operative Societies Act, 2006
40. Election of the Directors of the Board.
(1)The Directors of the Board shall be elected by the members of the self-supporting co-operative society in accordance with the bye-laws.(2)The term of the Board shall be five years from the date of election:Provided that the elected Directors shall continue to hold office till their successors are elected and assume charge as such.(3)It shall be the responsibility of the existing Board to conduct election of the Directors in time before the expiry of its term.(4)Where a self-supporting co-operative society fails to hold election of Directors. the Registrar shall hold the elections within a period of ninety days from the date of the expiry of the term of the Board.(5)The expenses for holding elections by the Registrar. shall be borne by the self-supporting co-operative society.(6)The vacancy of a Director shall be filled by election and the Director so elected, shall hold office for the remaining term of the Board.
