Provisions under Part IX-B
(Note: Cooperative societies fall under the State List.)
Governance & Regulation
- Governed by the State Legislature, which decides provisions related to:
- Number & Term of Directors:
- Max: 21 directors.
- Reservation: 1 seat for SC/ST + 2 seats for women.
- Term: 5 years.
- Co-option of Persons:
- Max: 2 persons (as determined by the State Legislature).
- Elections:
- Conducted by an authority determined by the State Legislature (NOT directly by the State Election Commission).
- Supersession & Suspension of Board:
- Not allowed where the government has no shareholding, loan, or financial assistance.
Financial & Administrative Provisions
- Audits & Accounts:
- As determined by the State Legislature.
- Audit must be completed within 6 months of the financial year’s closure.
- Audit report of Apex Cooperative Society → Laid before the State Legislature.
- Returns Submission:
- Submitted to the authority as determined by the State Government.
Application to Multi-State Cooperative Societies
| Aspect | Authority |
|---|---|
| State Legislature (SL) Matters | Parliament (GoI) |
| State Government (SG) Matters | Government of India (GoI) |
