Section 49E(1) in The Chhattisgarh Co-Operative Societies Act, 1960
(1)(a)Notwithstanding anything contained in this Act or rules or bye-laws made thereunder for every Apex Society where the State Government has contributed to its share capital or has given loans or financial assistance or has guaranteed the repayment of loans granted in any other form, there shall be a Managing Director, not below the rank of Class I Officer, who shall be selected by a committee constituted at the State level consisting of the Agriculture Production Commissioner, Chairman of the Apex Society, Registrar Co-operative Societies and one Director nominated by the Board of Apex Society :Provided that if the committee fails to select the Managing Director unanimously, the matter shall be referred to the State Government whose decision thereon shall be final:Provided further that in case of State Co-operative Bank, the Chief Executive Officer shall be appointed by the Board of Directors of the Bank as per the guidelines issued by the Registrar in accordance with the criteria stipulated by the Reserve Bank.(b)The Managing Director shall be ex-officio member of the committee.
