Section 28 in The Meghalaya Co-operative Societies Rules
28. Election and retirement of directors in non-agricultural credit societies.
- (i) At the first annual meeting of the general assembly of a non-agricultural credit society held after the commencement of these Rules, the entire body of directors shall retire but shall be eligible for re-election :Provided that no director who has held office for more than four years in succession shall be eligible for re-election for two years from the date of his retirement without the previous permission of the Registrar.(ii)In subsequent year one-third of the directors elected by the members shall retire from office at the next annual meeting of the general assembly and shall not be eligible for re-election for one year from the date of retirement.(iii)The vacancies caused by the retirement of directors under sub-rule (i) or sub-rule (ii) shall be filled up by election at the annual meeting of the general assembly in which they retire.(iv)The directors who are to retire in accordance with sub-rule (ii) at the second and the third annual meetings of general assembly shall be determined by lot in a meeting of the administrative council or the managing body, as the case may be, within three months from the date of its first constitution after the commencement of these Rules. In subsequent annual meeting of the general assembly, the directors who have been longest in office shall retire.Explanation. - For the purposes of this sub-rule the term of office of any member elected to fill a casual vacancy in the administrative council or managing body shall be deemed to include the periods of membership of his predecessors.
