Appointment of Managing Director instead of Secretary for Apex societies

(1) For every Apex society there shall be, a Managing director who shall be an Class-I officer of Government of India and State Governments or a Government servant of cooperative service not below the rank of class I officer or Government servant not below the rank of class I officer of the concerned department of Apex society, nominated by the State Government or experienced professional of concerned sector and his services shall be deemed to be on deputation with the society;

Provided that in case of State (Apex) cooperative bank, an officer of Apex cooperative bank/nationalized bank or financial management Institutional may normally be taken on deputation for 3 years in prescribed manner. Appointment of Managing Director or Chief Executive Officer on deputation shall be done by the selection committee as under on the basis of the qualification prescribed for Managing Director or Chief Executive Officer of nationalized banks by issuing an advertisement:-

1- Agriculture and Infrastature development Commissioner, Government of Uttarakhand-Chairperson 2- Principal Secretary/ Secretary, Personnel, Government of Uttarakhand-Member 3- Secretary, cooperative Government of Uttarakhand/Secretary of department concerned with Apex Society-Member 4- Chief General manager NABARD -Member 5- Registrar Cooperative societies, Uttarakhand--Member.

Provided further that the selection of experienced professional in Apex societies shall also be done by the said committee on the basis of prescribed qualification by issuing an advertisement. (2) The Managing Director shall be ex-officio member of the committee of management. (3) The Managing Director shall exercise the powers & discharge the function, specified below, namely— (a) be responsible for the sound management of the business of the society and its efficient administration, Chief Executive officer will be work according to co-operative Act, Rules, bye-laws and decisions of Management Committee; (b) operate the accounts of society singly or jointly in accordance with bye-laws provisions & resolutions of the committee of management & make arrangement for safe custody of cash; (c) sign & authenticate all documents on behalf of the society; (d) making arrangements for the proper maintenance of various books and records of the society & correct preparation, timely submission of periodical statements & returns in accordance with the provisions of the Act, the rules & the bye-laws; (e) convening meetings of the general body of society, the Board & the Executive committee & other committees or sub-committees constituted by the Board & maintaining proper records for such meetings; (f) assisting the Board in the formulation of policies & objectives and planning; (g) making appointments to the posts in co-operative society in accordance with rules & regulations; (h) furnishing to the Board periodical information necessary for appraising the operations & functions of society; (i) to receive all moneys and securities on behalf of the society and to make arrangements for the proper maintenance and custody of properties of the society; (j) to endorse and transfer promissory notes, Government and other securities and to endorse, sign and negotiate cheques and other negotiable instruments on behalf of the society; (k) to sign all bonds and agreements in favour of the society; (l) to create subject to provisions contained in the budget of the society, class III and class IV posts for a period of three months and to make, as appointing authority, recruitment thereto through the Board as provided in the regulations framed by the State Government in exercise of the powers under sub-section (2) of section 122; (m) to determine the powers, duties and responsibilities of the employees of the society; (n) to institute, conduct, defend, compound or abandon any suit or other legal proceeding by or against the society or otherwise concerning the affairs of the society and also to compound and allow time for payment or satisfaction of any claims or demand by or against the society; (o) to enter into negotiations and sanction contracts up to the value of Rs. 10 lakhs each during the construction phase and up to Rs. 5 lakhs each thereafter and to incur contingent expenditure up to Rs. One lac subject to Budget provisions and to do all such acts, deeds and things in the name of and on behalf of the society in relation to