Acts of a co-operative societies not to be invalidated by certain defects

No act of a co-operative society or of any committee or any officer of the society shall be deemed to be invalid by reason only of the existence of any defect in procedure or in the constitution of the society or of the committee or in the appointment or election of an officer or on the ground that such officer was disqualified for his office. No person shall be eligible for election as a member of the committee if:

(a) he is in default in any co-operative society in respect of any sum due from him to the co-operative society or owes to any co-operative society an amount exceeding maximum credit limit;

(b) he has directly, or indirectly any interest in any contract to which the co-operative society is a party except in transactions made with the co-operative society as a member in accordance with the objects of the co-operative society as stated in the bye-laws;

(c) he has at any time during a period of one year prior to the date of scrutiny of nomination papers engaged in any private business, trade or profession of any description which is carried on by the co-operative society.

(d) he has committed any offence involving dishonesty or moral turpitude during a period of five years immediately preceding to the date of scrutiny of nomination papers;

(e) he is subject to any of the disqualifications contained in rule 30;

(f) he has during a period of twelve months immediately preceding the date of filing nomination papers remained inactive as member or has been carrying on, through agencies other than a co-operative society of which he is a member, same business as is being carried on by the co-operative society.

(g) he incurs any other disqualification laid down in the bye-laws of the co-operative society.