Everything about the Model Bye-Laws and documents involved in it
Before we move on to the Bye-Laws for the corporate societies, let’s first briefly define what bye-laws are.
Bye-Laws are the laws made by a local authority, and these laws are only for that local area.
What are the bye-laws of corporate society?
So, in the case of corporate societies, the local area is the area that comes under the society. And these laws will be applied to the society area and members only.
Model Bye-laws are nothing more than a guide for framing bye-laws in a co-operative multi-state society based on a representative sample. The society must refer to the MSCS Act 2002 and Multi-state Cooperative Societies Rules 2002 before framing bye-laws.
In the above statement, the MSCS Act 2002 stands for Multi-State Cooperative Societies ACT, 2002. In simpler terms, this act consolidates and amends the law relating to co-operative societies, with objects not limited to one state and it serves the interests of members in more than one state.
The details involved in the bye-laws are given below:
However, the complete information can be found in the following document https://agricoop.nic.in/sites/default/files/Mdl1522012.pdf.
1) Name and address of the society
2) Area of operation of the society
3) Objects and functions of society;
4) Information about the members of the society – the services to be provided to them, the eligibility for membership, the procedures to be followed for membership, the conditions for membership renewal, membership withdrawal, membership transfer, membership suspension, members’ rights, and duties, etc.
5) Details related to society capital, fund sources, purposes for which the funds may be used, etc.
6) Information regarding the process of calling general meetings, the procedure for notice, details regarding voting in general and other meetings, etc.
To the same extent as the points shared above; there is a lot of information that needs to be reviewed. You can read all points in the document shared above. These points cover a variety of detail, ranging from the procedure for amending the bye-laws to the frequency of committee meetings.
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