Multi-State Co-Operative Societies Act, 2002

Chapter: I
PRELIMINARY
Section 1	:	Short title, extent and commencement.
Section 2	:	Application.
Section 3	:	Definitions.
Chapter: II
CENTRAL REGISTRAR AND REGISTRATION OF MULTI-STATE CO-OPERATIVE SOCIETIES
Section 4	:	Central Registrar.
Section 5	:	Multi‑State co‑operative societies which may be registered.
Section 6	:	Application for registration.
Section 7	:	Registration.
Section 8	:	Registration certificate.
Section 9	:	Multi‑State co‑operative society to be body corporate.
Section 10	:	Bye‑laws of multi‑State co‑operative societies.
Section 11	:	Amendment of bye‑laws of a multi‑State co‑operative society.
Section 12	:	When amendment of bye‑laws comes into force.
Section 13	:	Change of name.
Section 14	:	Change of address.
Section 15	:	Publication of name by multi‑State co‑operative society.
Section 16	:	Liability.
Section 17	:	Amalgamation or transfer of assets and liabilities, or division of multi-State co‑operative societies.
Section 18	:	Central Registrar to prepare scheme of amalgamation or reorganisation of a co‑operative bank in certain cases.
Section 19	:	Promotion of subsidiary institution.
Section 20	:	Liability of a co‑operative bank to Deposit Insurance and Credit Guarantee Corporation.
Section 21	:	Cancellation of registration certificate of multi‑State co‑operative societies in certain cases.
Section 22	:	Conversion of a co‑operative society into a multi‑State co‑operative society.
Chapter: III
REGISTRATION AND FUNCTIONS OF FEDERAL CO-OPERATIVES
Section 23	:	Registration of federal co‑operative.
Section 24	:	Functions of federal co‑operative.
Chapter: IV
MEMBERS OF MULTI-STATE CO-OPERATIVE SOCIETIES AND THEIR DUTIES, RIGHTS AND LIABILITIES
Section 25	:	Persons who may become members.
Section 26	:	Nominal or associate member of society.
Section 27	:	Educational course for members.
Section 28	:	Members not to exercise rights till due payment made.
Section 29	:	Disqualification for member of a multi‑State co‑operative society.
Section 30	:	Expulsion of members.
Section 31	:	Vote of members.
Section 32	:	Manner of exercising vote.
Section 33	:	Restriction on holding of shares.
Section 34	:	Restriction on transfer of shares or interest.
Section 35	:	Redemption of shares
Section 36	:	Transfer of interest on death of members.
Section 37	:	Liabilities of past member and estate of deceased member.
Chapter: V
DIRECTION AND MANAGEMENT OF MULTI-STATE CO-OPERATIVE SOCIETIES
Section 38	:	Constitution, powers and functions of general body.
Section 39	:	Annual general meeting of general body.
Section 40	:	Special general meeting of general body.
Section 41	:	Board of directors.
Section 42	:	Association of employees in management decision making process.
Section 43	:	Disqualifications for being a member of board.
Section 44	:	Prohibition to hold office of chairperson or president or vice‑chairperson or vice‑president in certain cases.
Section 45	:	Establishment of Cooperative Election Authority.
Section 45A	:	Power of Chairperson
Section 45B	:	Removal and suspension of Chairperson, Vice- Chairperson and Members
Section 45C	:	Disclosure and declaration of interest
Section 45D	:	Resignation of Members
Section 45E	:	Filling of casual vacancy
Section 45F	:	Restriction of reemployment
Section 45G	:	Vacancies, etc., not to invalidate proceedings of Authority
Section 45H	:	Meetings of Authority
Section 45I	:	Functions of Authority
Section 45J	:	Elections of members of board
Section 45K	:	Appointment of Returning Officer and other officers
Section 45L	:	Power to issue directions
Section 46	:	Holding of office in co‑operative society.
Section 47	:	Removal of elected members by general body.
Section 48	:	Nominee of Central Government or State Government on board.
Section 49	:	Powers and functions of board.
Section 50	:	Meeting of board.
Section 51	:	Chief Executive.
Section 52	:	Powers and functions of Chief Executive.
Section 53	:	Committees of board.
Section 54	:	Securing possession of records, etc.
Chapter: VI
PRIVILEGES OF MULTI-STATE CO-OPERATIVE SOCIETIES
Section 55	:	Charge and set‑off in respect of share or contribution or interest of members.
Section 56	:	Share or contribution or interest not liable to attachment.
Section 57	:	Register of members.
Section 58	:	Admissibility of copy of entry as evidence.
Section 59	:	Exemption from compulsory registration of instruments.
Section 60	:	Deduction from salary to meet multi‑State co‑operative society’s claim in certain cases.
Section 61	:	Government aid to multi‑State co‑operative societies.
Chapter: VII
PROPERTIES AND FUNDS OF MULTI-STATE CO-OPERATIVE SOCIETIES
Section 62	:	Funds not to be divided by way of profit.
Section 63	:	Disposal of net profits.
Section 63A	:	Establishment of Co-operative Rehabilitation, Reconstruction and Development Fund.
Section 63B	:	Rehabilitation and reconstruction of sick societies
Section 63C	:	Financial assistance to multi-State co-operative societies for development
Section 64	:	Investment of funds.
Section 65	:	Restriction on contribution.
Section 66	:	Restriction on loans.
Section 67	:	Restrictions on borrowing.
Section 68	:	Restriction on other transactions with non‑members.
Section 69	:	Contributory provident fund.
Chapter: VIII
AUDIT, INQUIRY, INSPECTION AND SURCHARGE
Section 70	:	Appointment and remuneration of auditors.
Section 70A	:	Concurrent Audit
Section 71	:	Provision as to resolutions for appointing or removing auditors.
Section 72	:	Qualifications and disqualifications of auditors.
Section 73	:	Powers and duties of auditors.
Section 74	:	Signature of audit report, etc.
Section 75	:	Reading and inspection of auditor’s report.
Section 76	:	Right of auditor to attend general meeting.
Section 77	:	Power of Central Government to direct special audit in certain cases.
Section 78	:	Inquiry by Central Registrar.
Section 79	:	Inspection of multi‑State co‑operative societies.
Section 80	:	Inspection of books of indebted multi‑State co‑operative societies
Section 81	:	Costs of inquiry and inspection.
Section 82	:	Recovery of costs.
Section 83	:	Repayment, etc.
Chapter: IX
SETTLEMENT OF DISPUTES
Section 84	:	Reference of disputes.
Section 85	:	Limitation.
Chapter: IXA
REDRESSAL OF COMPLAINTS
Section 85A	:	Co-operative Ombudsman
Chapter: X
WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY
Section 86	:	Winding up of multi‑State co‑operative societies.
Section 87	:	Winding up of co‑operative bank at the direction of Reserve Bank.
Section 88	:	Reimbursement to the Deposit Insurance Corporation by liquidator.
Section 89	:	Liquidator.
Section 90	:	Powers of liquidator.
Section 91	:	Disposal of surplus assets.
Section 92	:	Priority of contributions assessed by liquidator.
Section 93	:	Power of Central Registrar to cancel registration of a multi-State co-operative society
Chapter: XI
EXECUTION OF DECREES, ORDERS AND DECISIONS
Section 94	:	Execution of decisions, etc.
Section 95	:	Execution of orders of liquidators.
Section 96	:	Attachment before award.
Section 97	:	Central Registrar or arbitrator or person authorised to be civil court for certain purposes.
Section 98	:	Recovery of sums due to Government.
Section 98A	:	Review of decision
Chapter: XII
APPEALS AND REVIEW
Section 99	:	Appeals.
Section 100	:	No appeal in certain cases.
Section 101	:	Review.
Section 102	:	Interlocutory orders.
Chapter: XIII
SOCIETIES WHICH BECOME MULTI-STATE CO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES
Section 103	:	Co‑operative societies functioning immediately before reorganisation of States.
Chapter: XIV
OFFENCES AND PENALTIES
Section 104	:	Offences and penalties.
Section 105	:	Cognizance of offences.
Section 105A	:	Provisions of this Act not in derogation of any other law.
Chapter: XV
MISCELLANEOUS
Section 106	:	Appointment of Co-operative Information Officer
Section 106A	:	Copy of rules and bye-laws, etc., for inspection.
Section 107	:	Place of keeping and inspection of registers and returns.
Section 108	:	Inspection of books of account, etc., of multi‑State co‑operative society
Section 109	:	Annual accounts and balance‑sheet.
Section 110	:	Minutes of proceedings of general meetings and of board and other meetings.
Section 111	:	Minutes to be evidence.
Section 112	:	Presumptions to be drawn where minutes duly drawn and signed.
Section 113	:	Inspection of minutes book of general meetings.
Section 114	:	Liquidator to be public servant.
Section 115	:	Notice necessary in suits.
Section 116	:	Power to amend Second Schedule.
Section 117	:	Bar of jurisdiction of courts.
Section 118	:	Indemnity.
Section 119	:	Opening of branches.
Section 120	:	Filing of returns.
Section 120A	:	Filing of applications, documents, inspections, etc., in electronic form
Section 120B	:	Application of Banking Regulation Act, 1949
Section 121	:	Certain Acts not to apply.
Section 122	:	Central Government’s power to give directions to specified multi‑State co‑operative societies in public interest.
Section 123	:	Supersession of board of specified multi‑State co‑operative society.
Section 124	:	Power to make rules.
Section 125	:	Power to remove difficulties.
Section 126	:	Repeal and saving.
SCHEDULES
FIRST SCHEDULE	:	CO‑OPERATIVE PRINCIPLES
SECOND SCHEDULE	:	LIST OF NATIONAL CO‑OPERATIVE SOCIETIES
Section THIRD SCHEDULE	:	Disqualified person for being a member of board, if recovery is due in specified act [ section 43(1)(h) ]