Constitution of the Managing Committee

(1) The management of every society shall vest in a managing committee constituted in accordance with this Act, rules and bye-laws, which shall exercise such powers and perform such duties as may be conferred or imposed respectively, by this Act, rules and bye-laws. (2) The managing committee of a co-operative society shall be constituted by,- (a) election from amongst the members of the society at the annual or special general meeting; (b) nominees of other co-operative societies or institutions, if any, provided in the bye-laws; (c) Government nominees, if any, nominated under section 35; and (d) appointment made by the Registrar under section 34-A. (2-A). The managing committee shall, as soon as may be, elect from amongst its elected or nominated members a Chairman, Vice-Chairman; or a President, Vice-President, as the case may be, of the managing committee. (2-AA). Notwithstanding anything contained in sub-section (2-A), where the State Government has- (i) subscribed to the share capital of a co-operative society, or (ii) assisted indirectly in the formation or augmentation of the share capital of a co-operative society as provided under section 48, or (iii) guaranteed the repayment of principal amount and payment of interest on loans and advances to a society, to the extent of Rs. 50,00,000 or more, the State Government may appoint, one of the members nominated under section 35, as Chairman of the managing committee of such society: Provided that no member of a managing committee shall be eligible to be elected or appointed as Chairman or Vice-Chairman or President or Vice-President of the managing committee of such society, if such member is a Minister in the State Government. (3) The managing committee of a co-operative society shall consist of not less than five but not more than twenty-one members including Government nominees. (4) The term of office of the elected members of the managing committee and its office bearers shall be five years from the date of election and the term of office bearers shall be co-terminous with the term of the managing committee: Provided that the managing committee may fill a casual vacancy by nomination out of the same class of members in respect of which the casual vacancy has arisen, if the term of office of the managing committee is less than half of its original term.