MAHARASHTRA HOUSING SOCIETY BYLAWS PDF

The condition for membership — Applicant to take 10 shares of Rs. Bye law No. Education and training of Co-operative members, committee members, officers and employees — Education and Training fund of Rs. Regarding the use of Sinking Fund — Sinking fund can be utilized by the society and no permission of the Registrar is needed.

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The condition for membership — Applicant to take 10 shares of Rs. Bye law No. Education and training of Co-operative members, committee members, officers and employees — Education and Training fund of Rs. Regarding the use of Sinking Fund — Sinking fund can be utilized by the society and no permission of the Registrar is needed.

General body permission, however, is a must. Transfer of Property: NOC of society for transfer of flat or property is not required. However, Rule 24 and Bye-law No. Management Committee Elections: Elections of management committee must be notified six months in advance and to be held under the supervision of the newly constituted State Co-operative Election Authority SCEA. Appointment of Auditors, their Remuneration, Rights and Responsibilities, removal etc.

The auditor should be a panel auditor and maximum appointment for consecutive three years and maximum 20 audits excluding for societies with a paid capital of less than Rs. Additional responsibility to file FIR if misappropriation, etc is provided. Filing of Annual Mandatory Returns with the Registrar. One time limit for repairs and maintenance expenses management committee can decide is Rs.

Mandatory filing of Annual returns and auditors appointment should be insisted for. Security bond for holding cash from the employee and officer and if paid up capital is less than 1.

Copy of Bye laws, list of members to be kept open for inspection to the public free of charge Read more on Maharashtra Co-operative Society Act laws here.

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Recent changes in Maharashtra Co-Operative Society Act 1960

These bye-laws provides a distinct guidelines to the co-operative society management to facilitate ease of functioning and peaceful cohabitation of the members. Also Maharashtra Cooperative Housing Society Bye-Laws aids societies to initiate any redevelopment process as per the norms of the authority. Therefore, let us have a look at the key features that the MCS Act states: Area of operation: The act states that the area of operation for any co-operative housing society is confined to all the cities and towns of Maharashtra. Affiliation: Upon registering, the society becomes a member of Housing Federation of the district. As such the society becomes eligible to receive funds from the district central co-operative bank as per the bye-laws of the respective organisations.

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Laws pertaining to AGM of housing societies, in Maharashtra

Each housing society needs to follow the rules as listed in the Maharashtra Co-operative Housing Society Bye Laws to qualify as a registered housing society. Bye-Laws: Bye-laws mean the registered bye-laws of the society. Chief Promoter: Chief Promoter means the person who is elected by the Promoters till the first general body meeting of the society takes place. Committee: Committee means the Committee of the members that look after the overall management of the affairs of the society. Days: Days mean the number of calendar days between the day of posting the notice and society meeting. Flat: Flat means any self contained set of premises used for residential or commercial purpose.

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Model Bye–Laws of Cooperative Housing Society

Modes of communication of Notices, Resolutions, Decisions etc. Bye Law No a It shall be open to the Society, having regard to the importance of the matter and the specific provision made thereof under the MCS Act, the MCS Rules and the Bye-laws of the Society, to give notice of every General body meeting and communicate the resolution or the decision, to the Members of the Society on their last known addresses, by one of the following modes: i Hand delivery ii Dispatch through post office or by registered post, with or without acknowledgement due, or by email. Bye Law No Accounting Year The accounting year of the Society shall be that commencing on 1st April and ending on the 31st March of the subsequent year. If there is more than one building, the similar Notice Board shall be fixed in all the buildings. The General Body Meeting, after considering the Say of the Member and after giving him hearing, may levy penalty to the extent of maximum consolidated penalty not exceeding Rs.

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