Vidhi Codex

Bare Act

The Maharashtra Co-operative Societies Act 1960

Corporate1960178 of 165 sections available26 chapters

This legislation establishes the framework for registering, governing, and managing co-operative societies within the State of Maharashtra. It applies to various member-owned organizations, including housing societies, agricultural credit bodies, co-operative banks, consumer societies, and farming unions, along with their members and managing committees. The law defines conditions for incorporation, voting rights, financial operations, and reserve funds, while granting regulatory and oversight powers to the State Registrar. By establishing clear guidelines for dispute resolution, auditing, and leadership duties, this Act protects members' economic interests, promotes financial integrity, and fosters collective welfare across communities through organized co-operative principles.

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Chapter I PRELIMINARY →

  1. 0Preamble

Chapter II REGISTRATION →

  1. 3Registrar and his subordinates --
  2. 3ATemporary vacancies
  3. 4Societies which may be registered:
  4. 5State Government may, from time to time, issue.
  5. 6Conditions of registration:-
  6. 7Explanation :- For the purposes of this Section and Section 8 the expression "member of a family" means wife, husband, father, mother, 'son, or unmarried daughter.
  7. 8Application for registration.
  8. 9Registration.
  9. 10Evidence of registration.
  10. 11Power of Registrar to decide certain questions.
  11. 12Classification of societies.
  12. 13Amendment of bye-laws of society.
  13. 14Power to direct amendment of bye-laws.
  14. 15Change of name.
  15. 16Change of liability.
  16. 17Amalgamation, transfer, division or conversion of societies.
  17. 18Power to direct amalgamation, division and reorganization in public interest, etc:-
  18. 19Reconstruction of societies.
  19. 20Partnership of societies.
  20. 21Cancellation of registration.-

Chapter III MEMBERS AND THEIR RIGHTS AND LIABILITIES →

  1. 22Person who may become member.
  2. 23Open membership.
  3. 24Nominal, associate and sympathizer member.
  4. 25Cessation of membership
  5. 26Provided that, if the society does not comply with the requirement of this section, the Registrar shall direct such society to remove the name of such person, and the society shall be bound to comply with such direction.
  6. 27Voting powers of members.-
  7. 28Restrictions on holding of shares
  8. 29Restrictions on transfer or charge on share or interest.
  9. 30Transfer of interest on death of member.
  10. 31Share or interest not liable to attachment.
  11. 32Rights of members to see books, etc.
  12. 33Liability of past member and estate of deceased member.
  13. 34Insolvency of members.
  14. 35Expulsion of members.

Chapter IV INCORPORATION DUTIES AND PRIVILEGES OF SOCIETIES →

  1. 36Societies to be bodies corporate.
  2. 37Address of societies.
  3. 38Registrar, of any change in the said addresses, within thirty days thereof.
  4. 39Copy of Act, etc., to be open to inspection.
  5. 40Admissibility of copy of entry of evidence.-
  6. 41Exemption from compulsory registration of instruments relating to shares and debentures of society
  7. 42Power to exempt from taxation; Power to refund
  8. 43Restrictions on borrowings.
  9. 44Regulation of loan making policy.
  10. 45Act, 1985, recover, in any manner whatsoever, on account of interest, a sum greater than the amount of the principal of the loan.
  11. 46Save as is provided in this Act, the transactions of a society with persons other than members, shall be subject to such restrictions, if any, as may be prescribed.
  12. 47Prior claim of society.
  13. 48Charge on immovable property of members, borrowing from certain societies.
  14. 48ADeduction from sale price of certain agricultural produce to meet society's dues.
  15. 49Deduction from salary to meet society's claims in certain cases.

Chapter V STATE AID TO SOCIETIES →

  1. 50Direct partnership of State Government in societies.
  2. 51Indirect partnership of State Government in societies.
  3. 52Chapter referred to as an "Apex Society").
  4. 53Subsidiary State Partnership Fund.
  5. 54Chapter and for no other purpose.
  6. 55Shares shall not be purchased in a society from the moneys in the Principal State Partnership Fund or the Subsidiary State Partnership Fund, except with the previous approval of the State Government.
  7. 56Restriction on amount of dividend.
  8. 57Indemnity of Apex and Central societies.
  9. 58Central society in liquidation proceedings or on dissolution, as the case may be, and such moneys shall be credited to the Principal State Partnership Fund.
  10. 59Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or
  11. 60Principal or Subsidiary State Partnership Fund not to form part of assets.
  12. 61Agreement by State Government and Apex societies
  13. 62Other forms of State aid to societies.-
  14. 63Provisions of this Chapter to override other laws.

Chapter V PROPERTY AND FUNDS OF SOCIETIES →

    Chapter V - A →

      Chapter VI PROPERTY AND FUNDS OF SOCIETIES →

      1. 64Funds not to be divided.
      2. 65Provided that, a member may be paid remuneration on such scale as may be laid down by the bye-laws, for any services rendered by him to the society.
      3. 66Provided that no part of the profits shall be appropriated except with le approval of the annual general meeting and in conformity with the Act, rules and bye-laws.
      4. 67Restriction on dividend.
      5. 68Contribution to education fund of the State federal society,
      6. 69Contribution to public purposes.-
      7. 70Investment of funds.
      8. 71Employees Provident Fund.

      Chapter VI MANAGEMENT OF SOCIETIES →

        Chapter VII MANAGEMENT OF SOCIETIES →

        1. 72Final authority of society.
        2. 73Committee, its powers and functions.
        3. 73ABCessation of membership of committee held by virtue of office under Government etc.--
        4. 73BBReservation of seats for employees on committees of certain societies.-
        5. 73BBBReservation of seats on committees of societies for women members and elections
        6. 74Qualification and appointment of Manager, Secretary and other officers of societies and
        7. 75Annual General Meeting.
        8. 76Special general meeting.-
        9. 77Acts of societies etc., not to be invalidated by certain defects.
        10. 77AAppointment of member of committee, new committee or Administrator, where there is
        11. 78Power of removal of committee or member thereof.
        12. 79Registrar's power to enforce performance of obligations.
        13. 79AAAny order made by the Registrar under this section shall be final.
        14. 80Any order made by the Registrar under this section shall be final .

        Chapter VII AUDIT, INQUIRY, INSPECTION AND SUPERVISION →

          Chapter VIII AUDIT, INQUIRY, INSPECTION AND SUPERVISION →

          1. 81Audit.
          2. 82Rectification of defects in accounts.
          3. 83Inquiry by Registrar
          4. 84Inspection of books of indebted society.
          5. 85Government is otherwise involved.
          6. 86Recovery of costs.
          7. 87Registrar to bring defects disclosed in inquiry or inspection to notice of society.
          8. 88Power of Registrar to assess damages against delinquent promoters, etc.
          9. 88ADeposit towards fees of inquiry.
          10. 89Power to enforce, attendance etc.
          11. 89ACivil Court under the Code of Civil Procedure, 1908.
          12. 90Constitution or recognition of federal authority to supervise working of societies.

          Chapter VIII DISPUTES AND ARBITRATION →

            Chapter IX SETTLEMENT OF DISPUTES →

            1. 91Disputes.-
            2. 92Limitation.-
            3. 93Transfer of disputes from one Co-operative Court to another and suspension of
            4. 94Procedure for settlement of disputes and power of Co-operative Court.
            5. 95Attachment before award or order and interlocutory order.
            6. 96Decision of Co-operative Court.
            7. 97Appeal against decision under section 96 and order under Section 95.
            8. 98Money how recovered.
            9. 99Private transfer of property made after issue of certificate void against society.
            10. 100Registrar, as the case may be, under section 98 shall be null and void as against the society on whose application the said certificate was issued.
            11. 101Registrar under this section.

            Chapter IX LIQUIDATION →

              Chapter X LIQUIDATION →

              1. 102Winding up.
              2. 103Appointment of Liquidator.
              3. 104Appeal against order of winding up.
              4. 105Powers of Liquidator.
              5. 106Effect of order of winding up.
              6. 107Bar of suit in winding up and dissolution matters.
              7. 108Audit of Liquidators accounts.
              8. 109Termination of liquidation proceedings.
              9. 110Disposal of surplus assets.

              Chapter X LAND DEVELOPMENT BANKS →

                Chapter XI AGRICULTURE AND RURAL DEVELOPMENT BANKS →

                1. 111Application of Chapter XI of Agriculture and Rural Development Banks.
                2. 112State and other Agriculture and Rural Development banks.
                3. 113Appointment, powers and functions of Trustee.
                4. 114Agriculture and Rural Development Bank and the Trustee.
                5. 115Guarantee by State Government.
                6. 116State Government may think fit to impose.
                7. 117Powers of Agriculture and Rural Development Banks to advance loans and to hold lands
                8. 119Order granting loan conclusive of certain matters.
                9. 120Priority of mortgage.
                10. 121Agriculture and Rural Development Bank.
                11. 122Agriculture and Rural Development Bank to the State Agriculture and Rural Development Bank, and shall vest in the State Agriculture and Rural Development Bank.
                12. 123Gazette may be sent to the concerned registering authority within the period of three months from such date.
                13. 125Mortgages 8and other instruments executed by managers of joint Hindu families.
                14. 126Section 8 of the Act XXXII of 1956 to apply to mortgages and other instruments to an
                15. 127Restrictions on lease.
                16. 128Agriculture and Rural Development Bank to receive money and give discharge.
                17. 129Bank of Trustee and communicated to the bank, be entitled to sue on the mortgage or take any other proceeding for the recovery of the monies due under mortgage.
                18. 130Rural Development Bank.
                19. 131Rural Development Bank under this section.
                20. 132Powers to distrait.
                21. 133Provided that, no distrait shall be made after the expiry of twelve months from the date on which the installment fell due.
                22. 134Confirmation of sale.
                23. 135Disposal of sale-proceeds.
                24. 136Certificate to purchase, delivery of property and title of purchaser.
                25. 137Rural Development Bank.
                26. 138Mode of recovery by Collector.
                27. 139Officers or members of family not to bid at auction sale.-
                28. 140Explanation - For the purposes of this section, the expression "member of the family" means wife, husband, father, mother, brother, sister, son, daughter, son-in-law or daughter-in-law.
                29. 141Provision for Guarantee Funds to meet certain losses.
                30. 142Registrars power to permit any society or a class of Societies to function as an
                31. 143Service of notice.
                32. 143ATransfer of rights and liabilities of Government in respect of schemes sanctioned under
                33. 144Power of Committee of State Agriculture and Rural Development Bank to supervise

                Chapter XI - A →

                  Chapter XI APPEALS, REVIEW AND REVISION →

                    Chapter XII OFFENCES AND PENALTIES →

                    1. 145Prohibition of use of the word "Co-operative".
                    2. 146Offences.
                    3. 147Punishments for Offences under section 146.
                    4. 148Cognizance of offences.
                    5. 148ARegistrar.

                    Chapter XII MISCELLANEOUS →

                      Chapter XIII APPEALS, REVIEW AND REVISION →

                      1. 149Maharashtra State Co-operative Appellate Court.
                      2. 150Review of orders of Co-operative Appellate Court.
                      3. 151Co-operative Appellate Court to have power of Civil Court
                      4. 152Appeals.
                      5. 153Extension of period of limitation by appellate authority in certain cases.
                      6. 154Revisionary powers of State Government and Registrar

                      Chapter XIV MISCELLANEOUS →

                      1. 155Recovery of sums due to Government
                      2. 156Registrars powers to recover certain sums by attachment and sale of property.
                      3. 157Indian Limitation Act, 1963.
                      4. 158Delegation of Power of Registrar to certain authorities and officers
                      5. 159Branches, etc. of societies outside the State.
                      6. 160Handing over records and property to new Chairman on election.
                      7. 160AMembers of State Legislature and certain local authorities not to be remunerated while holding certain offices in societies
                      8. 160BMembers of committees not entitled to traveling allowance, daily allowance, etc., at a rate higher than maximum prescribed
                      9. 161Registrar and other officers to be public servants.
                      10. 162Indemnity for acts done, in good faith.
                      11. 163Bar of jurisdiction of Courts.
                      12. 164Court upon the merits or upon any other ground whatsoever.
                      13. 165Rules.
                      14. 166Repeal, saving and construction.
                      15. 167Companies Act not to apply.

                      Chapter X-A INSURED CO-OPERATIVE BANK →

                        Chapter XIII-A MAHARASHTRA STATE CO-OPERATIVE COUNCIL →

                        1. 154AConstitution of State Co-operative Council, its functions, etc.

                        Some statutory text is still being prepared for this language version.

                        PDF: pending for this language.