Section 49(7) in The M.P. Co-Operative Societies Act, 1960
(7)At every annual general meeting of a society, the committee shall lay before the society a statement showing details of loans or advances, if any, outstanding during the proceeding years, in the name of the members of the committee, their family members and near relations.] [Inserted by M.P. Act No. 14 of 1976.][Explanation. [Substituted by M.P. Act No. 25 of 1988 [w.e.f. 28-6-1988].] - For the purpose of sub-section (7) family members shall include wife, husband and dependent children.][(7-A)(i) The term of the committee shall be five years from the date on which first meeting of the committee is held :Provided that where a committee superseded, suspended or removed under the Act is reinstated as a result of any order of any Court or authority, the period during which the committee remained under supersession, suspension out of office as the case may be, shall be excluded in computing the period of the term aforesaid.(ii)The term of the representative elected by the committee of the society shall be co-terminus with the term of the committee of the society for which representative is elected :Provided that the representative of a committee shall continue to hold his office till the expiry of the term of the committee of which he is a member] [Substituted by M.P. No. 12 of 1994 [w.e.f. 8-5-94].].[7-AA) The State Government may, by notification, for reasons to be stated therein, extend the term of the committee, of a society or a class of societies from time to time, for a total period not exceeding twelve months.] [Substituted by M.P. Act No. 14 of 1990 [w.e.f. 26-4-1990].][(7-AAA) Notwithstanding the expiry of the maximum period of eighteen months specified in sub-section (7-AA), in respect of the committees between the period commencing on the 7th May, 1988 (hereinafter referred to as the said date) and ending on the date of publication of the Madhya Pradesh Co-operative Societies (Amendment) Ordinance, 1988, in Gazette the period in respect of such Committees shall be deemed to have been extended for a period of six months with effect from the said date as if the notification for the extension of the period were issued under sub-section (7-AA) on the said date.] [Inserted by M.P. Act No. 25 of 1988 [w.e.f. 28-6-1988].][x x x] [Sub-sections (7-B) and (7-C) omitted by M.P. Act 25 of 1988 [w.e.f. 28-6-1988].]
