Bare Act

The Bihar Self-Supporting Cooperative Societies Act, 1996

Corporate199653 sections11 chapters

This law provides the legal framework for forming and managing self-supporting cooperative societies in Bihar. It applies to all registered cooperatives, including their unions and federations, by outlining rules for governance, financial management, and dispute resolution. The act establishes tribunals to settle conflicts and sets strict guidelines for board elections, fund mobilization, and asset disposal. By regulating these organizations, the law ensures transparency and accountability, helping cooperatives function effectively to support their members and the state's economic goals.

Chapter I PRELIMINARY →

  1. 1Short title, extent and commencement
  2. 2Definitions
  3. 3Cooperative Principles

Chapter II REGISTRATION →

  1. 4Organisations which may be registered
  2. 5Application for registration
  3. 6Cooperative Society to be a body corporate
  4. 7Display of name
  5. 8Appointment of Registrar

Chapter III BYE-LAWS →

  1. 9Bye-laws
  2. 10Amendment of bye-laws

Chapter IV FINANCE AND FUNDS →

  1. 11Change of liability, transfer of assets and liabilities, division and amalgamation
  2. 12Promotion of subsidiary organisation
  3. 13Creation of new organization with others
  4. 14Cooperative Union / Federations
  5. 15Mobilisation of funds
  6. 16Restriction on borrowings
  7. 17Restriction on holding of equity
  8. 18Disposal of surplus
  9. 19Management of Deficit
  10. 20Reserve and other funds
  11. 21Investment of funds outside the business
  12. 22Restriction on contribution

Chapter V MEMBERSHIP →

  1. 23Membership
  2. 24Restriction on services to non-members

Chapter VI MANAGEMENT →

  1. 25General Body
  2. 26Board
  3. 27Powers and functions of the board
  4. 28Term of office
  5. 29Elections
  6. 30Meetings
  7. 31Staff

Chapter VII AUDIT AND INSPECTION →

  1. 32Accounts and records to be maintained
  2. 33Audit
  3. 34Special Audit
  4. 35Filing of returns
  5. 36Enquiry
  6. 37Power to summon and examine persons and documents
  7. 38Action on special Audit or enquiry Report

Chapter VIII SETTLEMENT OF DISPUTES →

  1. 39Constitution of Cooperative Tribunals
  2. 40Settlement of disputes
  3. 41Power of the Tribunal to order recovery

Chapter IX OFFENCES AND PENALTIES →

  1. 42Offences and Penalties

Chapter X DISSOLUTION →

  1. 43Dissolution by Members
  2. 44Dissolution by Tribunal
  3. 45Appointment of liquidator
  4. 46Duties of liquidator
  5. 47Powers of liquidator
  6. 48Final Account

Chapter XI MISCELLANEOUS →

  1. 49Fee for services
  2. 50Bar of jurisdiction
  3. 51Rules
  4. 52Removal of difficulty

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