Bare Act

The Nagaland Co-operative societies (3rd Amendment) Act, 2011

This law amends the Assam Cooperative Societies Act to update how short-term cooperative credit structures operate in Nagaland. It applies to the State Term Cooperative Bank and Primary Agricultural Credit Societies. The Act stops smaller societies from using the word "Bank" in their names and sets a strict 30-day deadline for processing registration changes. It allows these societies to freely join or leave federal groups and removes geographic restrictions on their operations. Additionally, it gives local committees more power to set interest rates and loan policies while ensuring board members are not allowed to serve if they have defaulted on payments for over a year.

PDF: pending for this language.