Section 33(1) in The Assam State Co-operative Agriculture and Rural Development Bank Limited
(1)Subject to such resolution as the Board may from time to time pass, the several officers of the Bank shall have the power mentioned below-(i)Chairman : The Board of Directors shall have a general control over the affairs of the Bank ;(ii)Chief Executive Director : The Chief Executive Director shall be responsible for executive administration of the Bank subject to the control of the Chairman ;(iii)The Chief Executive Directors shall be the officer to sue and to be sued on behalf of the Bank. All bonds by the Bank except those relating to moneys borrowed shall be executed by the Chief Executive Director. In respect of moneys borrowed by the Bank by way of debenture or otherwise, bonds shall be executed by the Chief Executive Director, the Chairman of the Bank and by another member of the Board authorised by the Board ;(iv)The Chief Executive Director shall have custody of all the properties of the Bank. He shall make disbursement, sanction generally or specifically by the Board or the Executive Committee and sign the cash Book in token of correctness. He shall be competent to incur contingent expenditures for any item subject to the provision of the budget passed by General Assembly. The Chief Executive Director shall in consultation with the Chairman or in his absence the Vice-Chairman convene meeting of the general Assembly and record the minutes of the proceedings of the Board and the Executive Committee and do such other works as may be entrusted to him. In absence of the Chief Executive Director, the Chairman of the meeting may require any member of the establishment to record the said minutes;(v)The Chief Executive Director or the Executive Director, if authorised by the Chief Executive Director jointly with any other officer of the bank authorised by the Board for the purpose shall have power for and on behalf of the Bank to operate the Bank accounts, to endorse, transfer, promissory note, Government securities and other securities standing in the name of held by the Bank and to sign, endorse and negotiate cheque and other negotiable instruments and to sign all receipts and all Bank accounts and other documents (Except debentures) connected with business of the Bank and to take charge of the cash balance at the close of each day ;(vi)The Executive Director under general control of the Chief Executive Director shall exercise full control of the paid staff of the Bank appointed by the Board. He will as per the directions of the Board, take necessary action for recruitment of staff and issue appointment letters. The Chief Executive Director will be competent to grant leave admissible to any member of the staff and take disciplinary action including suspension, fine and discharge from service, subject to service Rule of employees, which may be framed from lime to time ;(vii)The Chief Executive Director, shall be responsible for maintenance of proper accounts preparation of statements and reports ;(viii)Under his overall control, supervision and responsibility, the Chief Executive Director may authorise in writing any other office or employees of the Bank to perform any of his duties.
