In Maharashtra the Co-operatives are governed by the Maharashtra Co-operative Societies Act 1960 and supported by Maharashtra Co-operative Societies Rules, 1961. The legal system in the co-operatives registered in Maharashtra State is elaborate. Moreover each co-operative should have its own Bye-Laws which are the guiding principles of the co-operative. These Bye-laws have to be approved through a resolution of the Society. These bye-laws can be amended in the General body Meeting of the co-operative. The only condition on the bye-laws is that they should not be contrary to the Maharashtra Co-operative Societies Act, and have to be approved by the Registrar.
The legal framework essentially covers the following aspects :
Registration of Co-operative Societies
Rights of the members
Privileges of the Societies
Property and Funds of the Society
Management of the Society
Audit, Inquiry and Inspection
Disputes
Liquidation of Societies
Offences and Penalties
Appeals, Reviews and Revision
More:
Maharashtra Cooperative Societies
MAHARASHTRA COOPERATIVE SOCIETIES ACT , 1960
Co-operative society: All about new byelaws
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