Membership

SOCIETY shall have the following categories of Members only.

Ordinary Member

  1. A person will be enrolled as ordinary member up on fulfilling the following conditions.
  • He/she has applied in writing in the prescribed form.
  • He/she has paid admission fees and acquired at least one shares of the SOCIETY.
  • He/she has given a declaration that he/she is not a member of any other similar co-operative society.
  • He/she has fulfilled all other conditions laid down in the Act, Rules and Bye-laws of the SOCIETY.
  • The Board of Directors of the SOCIETY approves the application to admit as a member.
  1. No person shall be eligible for admission as a member of the SOCIETY if he/she.
  • Has not attained the age of 18 years.
  • He has been adjudged by a competent court to be an insolvent or an un discharged insolvent.
  • Has been sentenced for an offence of a political character or an offence not involving moral turpitude and dishonesty and a period of five years.

Membership of the Society comes with a share capital of 1000/- ( One Thousand Only ) and an admission fees of 100/- . Share Capital is refundable when the members moves out the Society and Admission Fees is non refundable.

Member can avail multiple shares contributing to a maximum of 5 % of the authorised share capital of the Society which is 100 Crores.

Members are allowed to transfer their shares between each other through the Society subject to Board Approval with a transfer fee of 100/- per share towards the Society.

Membership cancellation is allowed, subject to Board Approval which carries a fee of 100/- per share as well.

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