Vidhi Codex

The Bihar Co-operative Societies (Amendment) Act, 2008

The Bihar Co-operative Societies (Amendment) Act, 2008

Corporate200829 sections

This Act amends the Bihar Co-operative Societies Act of 1935 to modernize cooperative governance and promote inclusivity. It introduces definitions for various cooperative entities including short-term credit structures and panchayats, establishes an independent authority for managing committee elections in certain societies, and mandates financial assistance for women and marginalized community members. The legislation also provides mechanisms for self-supporting cooperatives registered under other Acts to convert to this Act's jurisdiction. These amendments aim to enhance transparency, democratic representation, and participation from diverse social groups in the state's cooperative sector, strengthening the legal framework that governs these essential economic organizations.

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  1. 1. Short Title, Extent and Commencement
  2. 2. Insertion after Section-2(c) of the Act 6 of 1935
  3. 3. Addition after Section-2(k) of the Act 6 of 1935
  4. 4. Addition of a new section-11A after section-11 of the Act 6 of 1935
  5. 5. Addition of a new Section-14A after Section-14 of the Act 6 of 1935
  6. 6. Amendment in Section-44AQ of the Act 6 of 1935
  7. 7. Addition of a new Chapter VI-D after Chapter VI-C of the Act 6 of 1935
  8. 8. Substitution of sub-section (2) of Section-47 of the Act 6 of 1935
  9. 9. Amendment of sub-clause (vii) of sub-section (2) of Section-66 of the Act 6 of 1935
  10. 10. Addition of new clause (xxx) after clause (xxix) of sub-section (2) of Section-66 of the Act 6 of 1935
  11. 44AY. Membership of an affiliating society
  12. 44AZ. Restriction regarding area of operation
  13. 44BA. Freedom of investment and deposit
  14. 44BB. Freedom of borrowings
  15. 44BC. Guidelines for payment of dividend by Primary Agricultural Credit Society
  16. 44BD. Contribution to any fund
  17. 44BE. Disqualification of members of the managing committee to State Co-operative Bank or Central Co-operative Bank
  18. 44BF. Supersession of Short Term Co-operative Credit Structure
  19. 44BG. Elections
  20. 44BH. The Prudential norms
  21. 44BI. Removal of Directors and Chief Executive Officers
  22. 44BJ. Co-option of professionals in Managing Committee of State Co-operative Bank and Central Co-operative Bank
  23. 44BK. Audit of accounts
  24. 44BL. Special audit of State Co-operative Bank or Central Co-operative Bank
  25. 44BM. Restriction of using word ‘Bank’ by the Primary Agricultural Credit Society
  26. 44BN. Abolition of Cadre system
  27. 44BO. Winding up of State Co-operative Bank or Central Co-operative Bank
  28. 44BP. Implementation of regulatory prescriptions of Reserve Bank
  29. 44BQ. Exemption by the State Government

PDF: pending for this language.