Section 27(3) in The Maharashtra Co-Operative Societies Act, 1960
(3)[ A society which has invested any part of its funds in the shares of any federal society, may appoint one of its [active] [Sub-section (3) was substituted by Maharashtra 41 of 2000, Section 2, (w.e.f. 23-8-2000).] members to vote on its behalf in the affairs of that federal society; and accordingly such member shall have the right to vote on behalf of the society:Provided that, any new member society of a federal society shall be eligible to vote in the affairs of that federal society only after the completion of the period of three years from the date of its investing any part of its fund in the shares of such federal society:[* * *] [Sub-section (3) was substituted by Maharashtra 41 of 2000. Subsequently the second proviso to sub-section (3) was substituted by Maharashtra Order No. 12 of 2001 w.e.f. 23-4-2001. But this ordinance lapsed as it was not converted Into an Act.]
