Section 32(1) in The Assam Co-operative Societies Act, 1949
(1)A general meeting to be termed the annual general meeting of the General Assembly of a registered society shall be held at least once in every co-operative year for the purpose of-(a)electing members to the Administrative Council, managing body and other committees of the society, the Chairman, Vice-Chairman and other office bearers, as may be provided in the bye-laws, and fixing such fees, salaries or other remuneration as prescribed in the bye-laws:Provided that the State Government may prescribe by rules the tenure of office of the elected members of the Administrative Council, managing body and other Committees and also the qualifications necessary for the office bearers and the employees;(b)electing internal auditor or auditors who shall not be members of the Administrative Council of governing body, and fixing the renumeration;(c)considering the annual report of the Administrative Council or if there be no Administrative Council of the managing body, audit report and audited annual accounts and balance sheets and reviewing the working of the society during the preceding co-operative year;(d)deciding how profits are to be distributed in accordance with the bye-laws;(e)passing the annual budget and approving the programme of work for the ensuing year;(f)fixing the maximum amount of liability to be incurred during the ensuing year and the maximum rate of interest payable on deposits; and(g)considering such other business as may be placed before the meeting in accordance with the bye-laws :Provided that notwithstanding anything to the contrary contained in this Act or rules made thereunder or bye-laws of any society, the Registrar may direct that the first annual general meeting of any registered society shall be held on a date to be fixed by him (which shall be a date within one hundred and eighty days of the registration of the society) to elect the office bearers of the society according to the procedure and manner prescribed in the bye-laws of the society and the officer bearers so elected shall assume office on the conclusion of the general meeting in which they are elected in replacement of the managing committee elected at the time or inaugural general meeting of the society.
