Agreement regarding period of membership, sharing of income, etc

(1) Every member of a tenant farming society shall execute an agreement with the tenant farming society specifying- (i) the period for which he shall continue as member of such society, such period not being less than five years in any case; (ii) the basis on which the share of his income shall be determined; and (iii) such other matters as may be prescribed. (2) The agreement executed under sub-section (1) shall be sent by registered post by the tenant farming society to the sub-registrar having jurisdiction over the area in which the lands are situated. (3) On receipt of the agreement, the sub-registrar shall register such agreement and issue a copy thereof to the tenant farming society. (4) Any agreement executed under sub-section (1) which has not been registered under sub-section (3) shall be null and void. (5) The tenant farming society shall be entitled to collect any sum due to the society under the agreement executed under sub-section (1) or on any account whatsoever, by any member or past or deceased member.