Section 73(1AB) in The Maharashtra Co-Operative Societies Act, 1960
(1AB)[ The members of the committee shall be jointly and severally responsible for all the decisions taken by the committee during its term relating to the business of the society. The members of the committee shall be jointly and severally responsible for all the acts and omissions detrimental to the interest of the society.[* * *] [Sub-section (1AB) was inserted by Maharashtra 41 of 2000, Section 3, (w.e.f. 23-8-2000).]:Provided that, before fixing any responsibility mentioned above, the Registrar shall inspect the records of the society and decide as to whether the losses incurred by the society are on account of acts or omissions on the part of the members of the committee or on account of any natural calamities, accident or- any circumstances beyond the control of such members :Provided further that, any member of the committee, who does not agree with any of the resolution or decision of the committee, may express his dissenting opinion which shall be recorded in the proceedings of the meeting and such member shall not be held responsible for the decision embodied in the said resolution or such acts or omissions committed by the committee of that society as per the said resolution. Such dissenting member, if he so desires, may also communicate in writing his dissenting note to the Registrar [within fifteen days, from the date of the said resolution or decision or from the date of confirmation of the said resolution or decision] [These words were substituted for the words 'within seven days from the date of the said resolution or decision' by Maharashtra Act No. 16 of 2013 dated 13-8-2013, Section 26(a)(ii), (w.e.f. 14-2-2013).]. Any member, who is not present for the meeting in which the business of the society is transacted, and who has not subsequently confirmed the proceedings of that meeting, such member shall also not be held responsible for any of the business transacted in that meeting of the society.
