Vidhi Codex

The Madhya Pradesh Co-operative Societies Act, 1960

The Madhya Pradesh Co-operative Societies Act, 1960

Corporate1960154 sections

This law governs the formation, registration, management, and regulation of co-operative societies operating across Madhya Pradesh. It applies to diverse cooperative entities, including agricultural credit societies, housing societies, consumer stores, industrial units, and co-operative banks, as well as their members, officers, and administrators. By establishing rules for governance, auditing, dispute resolution, financial management, and state oversight, the statute ensures that these collective institutions run democratically, transparently, and efficiently. Ultimately, the legislation protects members' economic interests, promotes community-led economic development, ensures access to credit and essential services, and safeguards public confidence in co-operative financial structures.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions.
  3. 3. Registrar and other officers
  4. 4. Societies which may be registered
  5. 5. Registration of societies with limited or unlimited liability
  6. 6. Conditions of registration.
  7. 7. Application and fee for registration
  8. 8. Power of Registrar to decide certain questions.
  9. 9. Registration.
  10. 9A. Conversion of co-operative into co-operative society
  11. 10. Classification of societies.
  12. 11. Amendment of bye-laws of society
  13. 12. Power to direct amendment of byelaws.
  14. 13. Change of name
  15. 14. Certain certificates to be conclusive evidence.
  16. 15. Change of liability of society from limited to unlimited or vice-versa
  17. 16. Reorganization of societies.
  18. 16-A. Collaboration by Societies.
  19. 16-B. Partnership of societies.
  20. 16-C. Government's power to make scheme of reorganization in the public interest (for Chhattisgarh only)
  21. 17. Compromise or arrangement for repayment of liabilities and reconstruction of societies.
  22. 17-A. Action and liability of Banks under moratorium.
  23. 17-B. Liability of new Bank to repay to the Deposit Insurance Corporation
  24. 18. Cancellation of registration.
  25. 18-A. De-registration of Societies.
  26. 19. Persons who may become members.
  27. 19-A. Disqualification of member.
  28. 19-AA. Disqualification for membership of committee
  29. 19-B. Effect of subsequent disabilities.
  30. 19-C. Expulsion of members.
  31. 20. Nominal members.
  32. 21. No rights of membership to be exercised till due payments are made.
  33. 22. Votes of members.
  34. 23. Manner of exercising vote.
  35. 24. Restrictions on holding of share capital by a member.
  36. 25. Restrictions on transfer of shares or interest
  37. 26. Transfer of interest on death of member
  38. 27. Share or deposit or interest not liable to attachment
  39. 28. Rights of members to see books, etc.
  40. 29. Liability of a past member or estate of deceased member
  41. 30. Insolvency of members.
  42. 31. Societies to be bodies corporate.
  43. 32. Address of society and display of name
  44. 33. Register of members
  45. 34. Proof of entries in society's books.
  46. 34-A. Societies to give pass books to member.
  47. 35. Exemption from compulsory registration of instruments.
  48. 36. Borrowings.
  49. 37. Restrictions on loans.
  50. 37-A. Society not to recover or receive interest greater than the principal from members belonging to Scheduled Caste and Scheduled Tribes. (for M.P. only) / Society not to recover or receive interest greater than the principal. (for Chhattisgarh only)
  51. 38. Restrictions on other transactions with non-members
  52. 39. Charge and set-off in respect of share or interest of members
  53. 40. Prior claim of society on certain assets.
  54. 41. First charge of co-operative societies on certain assets.
  55. 41-A. Right of society to acquire and dispose of immovable property.
  56. 42. Deduction from salary to meet society's claim in certain cases.
  57. 43. Funds and profits
  58. 43-A. Appropriation of profits.
  59. 43-B. Liability for deficit.
  60. 44. Investment of funds.
  61. 45. Grant of State aid to societies
  62. 46. Employee's Provident Fund
  63. 47. Power to direct affiliation to Federal Society.
  64. 47-A. Apex society
  65. 48. Final authority in society
  66. 48-A. Disqualifications for holding specified office.
  67. 48-B. Representatives and Delegates.
  68. 48-C. Powers of committee.
  69. 48AA. Disqualification for membership of Board of Directors and for representation
  70. 49. Annual General Meeting
  71. 49-A. Omitted.
  72. 49-B. Annulment of proceedings of society by successor committee.
  73. 49-C. Government's powers to give directions in public interest, etc.
  74. 49-D. Registrar's power to give directions to make regulations.
  75. 49-E. Appointment of Managing Director and Chief Executive Officer in certain circumstances.
  76. 50. Special General Meeting.
  77. 50-A. Disqualification for being candidate on voter for election to committee or representative or delegate of society.
  78. 50-AA. Omitted.
  79. 51. Validation of acts.
  80. 52. Power to appoint Government nominees.
  81. 52-A. Omitted.
  82. 52-B. Representation of women members on committee.
  83. 53. Supersession of committee.
  84. 53-A. Taking over of charge.
  85. 53-B. Power of Registrar to remove an Officer of a society in certain circumstances.
  86. 53-C. Removal of officer of Co-operative Bank
  87. 54. Appointment of Managers, Secretaries and other officers.
  88. 55. Registrar's power to determine conditions of employment in societies
  89. 56. Registrar's power to enforce performance of obligation.
  90. 57. Registrar's power to seize records, etc.
  91. 57-A. Taking possession of record and property
  92. 58. Audit and audit-fee
  93. 58-A. Audit Board
  94. 58-B. Procedure for making good losses caused to a society.
  95. 59. Inquiry
  96. 59-A. Duty of certain persons to assist enquiry.
  97. 60. Inspection of books of society
  98. 61. Rectification of defects.
  99. 62. Costs of inquiry
  100. 63. Omitted.
  101. 63-A. Expenditure on proceedings, etc.
  102. 64. Disputes.
  103. 65. Limitation
  104. 66. Settlement of dispute.
  105. 67. Procedure for settlement of disputes and power of Registrar, his nominee or board of nominees
  106. 68. Attachment before award.
  107. 69. Winding up of Societies.
  108. 69-A. Winding up of Co-operative Bank.
  109. 69-B. Reimbursement of Deposit Insurance Corporation in case of Insured Bank.
  110. 70. Appointment of Liquidator.
  111. 70-A. Control of liquidator.
  112. 71. Powers of Liquidator.
  113. 72. Disposal of surplus assets of liquidated societies.
  114. 72-A. Application of Chapter.
  115. 72-B. Member's entitlement for plot, house and amenities and the liability of the cost.
  116. 72-C. Restriction on membership of housing society
  117. 72-D. Offences.
  118. 72-E. Penalties for offences.
  119. 73. Prohibition of use of work 'Co-operative'.
  120. 74. Offences.
  121. 75. Penalties for offences.
  122. 76. Cognizance of offences.
  123. 77. Madhya Pradesh State Co-operative Tribunal
  124. 77-A. Review
  125. 77-B. Tribunal to exercise Powers of a civil court
  126. 78. Appeals before the Registrar and Tribunal (M.P.) / Revision (Chhattisgarh).
  127. 78-A. Extension of period of limitation by appellate authority in certain cases.
  128. 79. No appeal or revision in certain cases.
  129. 80. Transfer or withdrawal of cases (M.P.) / Review (Chhattisgarh).
  130. 80-A. Power of Registrar to call for proceedings of subordinate Officers and committee of a society and to pass orders thereon (M.P.) / Extension of period of limitation by appellate authority in certain cases (Chhattisgarh).
  131. 80-B. Transfer of pending cases.
  132. 80-C. Power to make interlocutory orders
  133. 80-D. Stay of execution of orders
  134. 80-E. Transfer of pending cases.
  135. 80-F. Miscellaneous.
  136. 81. Recovery of sums due to Government
  137. 81-A. Power of financing bank to proceed against defaulting members of co-operative society
  138. 82. Bar of jurisdiction of Courts.
  139. 83. Recovery of costs.
  140. 84. Enforcement of charge.
  141. 84-A. Recovery of sums due to housing society.
  142. 85. Execution of orders, etc.
  143. 85-A. Manner of executing order to deliver possession of immovable property
  144. 86. Service of notice.
  145. 87. Registrar and other officers etc. to be public servants.
  146. 88. Indemnity for acts done in good faith.
  147. 89. Powers of civil courts
  148. 90. Registrar or person empowered by him to be a civil court for certain purposes
  149. 91. Omitted.
  150. 92. Companies Act not to apply
  151. 93. Certain other Acts not to apply to Co-op. Societies.
  152. 94. Notice necessary in suits.
  153. 95. Power to make rules
  154. 96. Repeal and savings.

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