Section 16 in Mizoram Cooperative Societies Act, 2006
16. Bye-laws.
(1)Every may make its own bye-laws or adopt in toto or adopt with necessary changes the bye-laws prepared and published by State Government or the Registrar or that of same or similar kind of s, consistent with the provisions of this Act and rules made there under.(2)The bye-laws of co-operative shall have legal force only when it is registered by the Registrar under this Act.(3)The bye-laws of co-operative may provide for all or most of the following subject maters namely:(a)the name address and area of operation of the co-operative;(b)the objective and purpose behind the formation of the co-operative explicitly stated as a common central need of members;(c)the principles of cooperation as stated in this Act, according to which the co-operative shall conduct its affairs;(d)the type and kind of services to be provided to its members and non-members as well, if any.;(e)eligibility condition or criterion essential for obtaining membership(f)in cooperative; incorporation of the procedure for;(i)obtaining membership.(ii)withdrawal or transfer of membership,(iii)termination and cessation of membership;(g)fulfillment of conditions necessary for continuing as a member;(h)the time limit within which a potential member must seek and obtain membership in order to continue to use the services of co-operatives;(i)rights made available to members and the extent of its enjoyment and non-enjoyment:(j)fixation of minimum involvement or performance required annually of each member vis-a-vis use of services financial commitment participation in meetings. in order to be eligible to exercise the rights of membership including the right to vote;(k)the consequences of default in payment of any sum due to co- operative by a member(l)the nature, type and amount of capital, if any, of the co-operative;(m)the maximum capital upto the extent a single member can subscribe;(n)the nature and extent of the liability of members for the debts contracted by the co-operative;(o)the sources and type of funds to be raised by the co-operative;(p)the purposes for which the funds may be applied or utilized with express specification of approval or consent required from Registrar or management committee;(q)the extent and conditions under which deposits, loans, debentures and other funds may be mobilized or utilized, as the case may be;(r)the conditions and purposes for which state aid and aid from other financial institutions may be sought and obtained;(s)the manner of disposal of surplus;(t)the constitution of various funds, reserves and the purposes for which the same mayor may not be utilized;(u)the manner of convening general body and other special general meetings and quorum thereof required to conduct such meetings;(v)the frequency of conducting general body meetings;(w)the manner of making or bringing amendment in the bye-laws;(x)the procedure for conducting elections in (a) normal circumstances and (b) in case the fails to conduct election;(y)the size and constitution of the broad of directors;(z)fulfillment of conditions essential for:(a)becoming a director,(b)retaining directorship and(c)removal of directors and for filling up of vacancies;(za)the term of office of the directors chairperson and other office bearers;(zb)the manner of convening management committee meetings and quorum required;(zc)the frequency of conducting board meetings;(zd)powers and functions of office bearers including chairman;(ze)penalties for acting against the interest of members and for non- fulfillment of duties by members, directors and staff:(zf)conduct of audit:(a)the appointment role and functions of auditors.(b)procedure for conduct of audit where co-operatives fail to make necessary arrangements.(c)time limit for making audit compliance;(zg)the authorization of an officer(s) to sign documents and to institute and defend suits and other legal proceedings on behalf of the co-operative;(zh)the terms and condition on which a co-operative may:(a)deal with non-members,(b)associate with other co-operatives and(c)deal with organisations other than co-operatives;(zi)the rights, if any, which the co-operative may confer on any or other federations and the circumstances under which these rights may be exercised by the federation/s;(zj)the manner of disposal of funds of a co-operative under liquidation;(zk)the specification of accounting year for the co-operative;(zl)procedure and terms and conditions for transfer of shares and interest of decreased member in the name of a nominee after the death of a member;(zm)the grounds for and procedure to be followed for the dissolution of a co-operative; restrictions if any, on services rendered or to be rendered to non-members; organisation of self-help groups of people living in Its area of operation and to conduct education and training programmes.
