Section 49 of MCS ACT 1960 : Deduction from salary to meet society’s claim in certain cases.
49.Deduction from salary to meet society’s claim in certain cases. (1) A member of a society may execute an agreement in favour of the soci...
Friday, 30 September 2022
Section 48A of MCS ACT 1960 : Deductions from sale price of certain agricultural produce to meet society’s dues.
48A. Deductions from sale price of certain agricultural produce to meet society’s dues. (1) Where a loan has been advanced by any society i...
Section 48 of MCS ACT 1960 : Charge on immovable property of members borrowing from certain societies
48.Charge on immovable property of members borrowing from certain societies Notwithstanding anything contained in this Act or in any other l...
Section 47 of MCS ACT 1960 : Prior claim of Society
47.Prior claim of Society (1) Notwithstanding anything in any other law for the time being in force, but subject t...
Section 46 of MCS ACT 1960 : Charge and set-off in respect of share or interest of member.
46.Charge and set-off in respect of share or interest of member. A society shall have a charge upon the share or interest in the capital, a...
Section 45 of MCS ACT 1960 : Restrictions on other transactions with non- members.
45.Restrictions on other transactions with non- members. Save as is provided in this Act, the transactions of a society ...
Section 44A of MCS ACT 1960 : Limit on interest in certain cases.
44A. Limit on interest in certain cases. Notwithstanding anything contained in any agreement or any law for the time being in force, a soci...
Section 44 of MCS ACT 1960 : Regulation of loan making policy
44.Regulation of loan making policy (1) No society shall make a loan to any person other than a member or on the security of its own shares...
Section 43 of MCS ACT 1960 : Restrictions on borrowings
43.Restrictions on borrowings (1) A society shall receive deposits and loans from members and other persons, only...
Section 42 of MCS ACT 1960 : Power to exempt from taxation
42.Power to exempt from taxation (1) The State Government by notification in the Official Gazette may, in the ca...
Section 41 of MCS ACT 1960 : Exemption from compulsory registration of instruments relating to shares and debentures of society.
41.Exemption from compulsory registration of instruments relating to shares and debentures of society. ...
Section 40 of MCS ACT 1960 : Admissibility of Copy of entry as evidence
40.Admissibility of Copy of entry as evidence (1) A copy of any entry in any book, register or list, regularly kep...
Section 39 of MCS ACT 1960 : Copy of Act, etc., to be open to Inspection
39.Copy of Act, etc., to be open to Inspection Every society shall keep, at the registered address of the society, a copy of this Act and t...
Section 38 of MCS ACT 1960 : Register of Members
38. Register of Members (1) Every society shall keep a register of its members, and enter therein the following pa...
Section 37 of MCS ACT 1960 : Address of Societies
37. Address of Societies Every society shall have an address, registered in accordance with the rules, to which al...
Section 36 of MCS ACT 1960 : Societies to be bodies corporate
36.Societies to be bodies corporate The registration of a society shall render it a body corporate by the name und...
Friday, 23 September 2022
Section 35 of MCS ACT 1960 : Expulsion of Members
35.Expulsion of Members (1) A society may, by resolution passed 1[ by a majority of not less than three-fourths] ...
Section 34 of MCS ACT 1960 : Insolvency of Members
34.Insolvency of Members Notwithstanding anything contained in the Presidency-towns Insolvency Act, 1909, the Prov...
Section 33 of MCS ACT 1960 : Liability of past member and estate of deceased member
33.Liability of past member and estate of deceased member (1) Subject to the provisions of sub-section (2), the liabilit...
Section 32A of MCS ACT 1960 : Certain societies to give pass books to members and entries in such book evidence of amount due
32A.Certain societies to give pass books to members and entries in such book evidence of amount due (1) A society which gives loans to its m...
Section 32 of MCS ACT 1960 : Rights of members to see books, etc
32.Rights of members to see books, etc (1) Every member of a society shall be entitled to inspect, free of cost, at the society’s office ...
Section 31 of MCS ACT 1960 : Share or interest not liable to attachment
31. Share or interest not liable to attachment The share or interest of a member in the capital of...
Section 30 of MCS ACT 1960 : Transfer of interest on death of member
30.Transfer of interest on death of member (1) On the death of a member of a society, the society shall transfer the share or interest of th...
Section 29 of MCS ACT 1960 : Restrictions on transfer or charge of share or interest
29.Restrictions on transfer or charge of share or interest (1) Subject to the provisions of the last preceding section as to the maximum hol...
Section 28 of MCS ACT 1960 : Restrictions on holding of shares
28.Restrictions on holding of shares In any society, 4[no member, other than the Government, or any other society, or with the previous sanc...
Section 27 of MCS ACT 1960 : Voting Powers of Members
27.Voting Powers of Members (1) Save as otherwise provided in sub-sections (2) to (7), both inclusive, no member of any society shall have m...
Section 26 of MCS ACT 1960 : Rights and Duties of Members
26.Rights and Duties of Members (1) A member shall be entitled to exercise such rights as provided in the Act, rules and by-laws : Provided ...
Section 25A of MCS ACT 1960 : Removal of names of members from membership register
25A.Removal of names of members from membership register The committee of a society shall remove from the register of it...
Section 25 of MCS ACT 1960 : Cessation of Membership
25.Cessation of Membership A person shall cease to be a member of a society on his resignation from the membership...
Section 24A of MCS ACT 1960 : Co-operative education and training to members, etc
24A.Co-operative education and training to members, etc (1) Every society shall organise co-operative education and training, for its member...
Section 24 of MCS ACT 1960 : Nominal and Associate Member
24.Nominal and Associate Member (1) Notwithstanding anything contained in section 22, a society may admit any person as a 4[nominal or assoc...
Section 23 of MCS ACT 1960 : Open Membership
23.Open Membership (1) No society shall without sufficient cause, refuse admission to membership to any person dul...
Section 22 of MCS ACT 1960 : Person who may become member
22.Person who may become member (1) Subject to the provisions of section 24, no person shall be admi...
Wednesday, 21 September 2022
Section 21A of MCS ACT 1960 : Deregistration of societies
21A. Deregistration of societies. (1) If the Registrar is satisfied that any society is registered on mis-represen...
Section 21 of MCS ACT 1960 : Cancellation of registration
21. Cancellation of registration The Registrar shall make an order cancelling the registration of a society if it...
Section 20A of MCS ACT 1960 : Collaboration by societies
20A. Collaboration by societies (1) Any society or societies may, with the prior approval of the State Government,...
Section 20 of MCS ACT 1960 : Partnership of societies
20.Partnership of societies (1) Any two or more societies may, with the prior approval of the Regist...
Section 19 of MCS ACT 1960 : Reconstruction of societies
19. Reconstruction of societies Where a proposal for a compromise or arrangement,— (a) between a society and its creditors, or (b) b...
Section 18C of MCS ACT 1960 : Reorganization of societies on account of alteration of limits of local areas in which they operate
18C.Reorganization of societies on account of alteration of limits of local areas in which they operate ...
Tuesday, 20 September 2022
Section 18B of MCS ACT 1960 : Amalgamation of primary agricultural credit societies
18B.Amalgamation of primary agricultural credit societies (1) Where the Registrar is satisfied that it is essential— ...
Section 18A of MCS ACT 1960 : Amalgamation of Co-operative banks
18A. Amalgamation of Co-operative banks (1) Where the Registrar is satisfied that it is essential in the public in...
Section 18 of MCS ACT 1960 : Power to direct amalgamation, division and reorganization in the public interest of members, etc.
18.Power to direct amalgamation, division and reorganisation in the public interest of members, etc. ...
Section 17 of MCS ACT 1960 : Amalgamation, Transfer, Division or conversion of Societies
17.Amalgamation,transfer, division or conversion of societies. (1) A society may, with the previous...
Section 16 of MCS ACT 1960 : Change of Liability
16. Change of liability (1) Subject to the provisions of this Act and the rules, a society may, by amendment of its by-laws, change the for...
Section 15 of MCS ACT 1960 : Change of Name
15. Change of name. (1) A society may, by resolution passed at a general meeting, and with the approval of the Registrar, chan...
Section 14 of MCS ACT 1960 : Power to direct amendment of Bye-Laws
14. Power to direct amendment of bye-laws (1) If it appears to the Registrar that an amendment of the by-laws of ...
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