Subject to such restrictions as the General Body may from time to time pass ,the management of the affairs of the society shall vest in a Board of Directors Consisting of members elected once in every five years by the general body meeting of ‘A’ class members.Out of the 9 members one seat shall be reserved for candidate from SC/ST communities one for members having a deposit of ten thousand rupees and above and three for women candidates.
The Board of Directors elected by a General Body shall hold office for a period of 5 years from the date of election.
The Board shall elect from among themselves a President and a Vice President .The President when present shall preside over the Board meetings.In his absence,the Vice President shall preside over the meeting.
Should an elected member of the Board absent from three consecutive meetings of the Board without showing adequate cause he shall cease to be a member of the Board.But on sufficient reason being shown for his continued absence,the Board may permit the member to continue to serve in the Board.
I t shall be competent for the Board to frame subsidiary rules consistent with the provisions of the Act,rules and Bye-laws for the proper conduct of the business of the Society.Such rules shall be entered in the Minutes Book of the Society and shall come into force after they are approved by the General Body Meeting and the Deputy Registrar.
Deposits may at the discretion of the Board of directors be received at any time from members only.Read More
Loans shall be given to ‘A’ class members only.But no member can claim a loan as a matter of right.There shall be 5 loans viz, Own Fund DCBRead More
On the application of 10 or more members,the Board of Directors may start and conduct chit fund to sRead More