Short Title, Extent and Commencement:-

This Act may be called the Maharashtra Co-operative Societies Act, 1960.

It extends to the whole of the State of Maharashtra.

It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint

Definitions –

in this Act, unless the content otherwise requires,

“agricultural marketing society” means a society –

the object of which is the marketing of agricultural produce and the supply of, implements and other requisites for agricultural production, and

not less than three-fourths of the members of which are agriculturists, or societies formed by agriculturists;

“apex society” means a society –

The area of operation of which extends to the whole of the State of Maharashtra,

The main object of which is to promote the principal objects of the societies affiliated to it as members and to provide for the facilities and services to them, and

Which has been classified as an apex society by the Registrar;

“Authorised Person” means any person duly authorised by the Registrar to take action under the provisions of this Act; [*Was inserted By MAH. XXIV of 1961]

Clause (3) deleted

“Bonus” means payment made in cash or kind out of the profits of a society to a member, or to a person who is not a member, on the basis of his contribution (including any contribution in the form of labor or service) to the business of the society, and in the case of a farming society, on the basis both of such contribution and also the value or income or, as the case may be, the area of the lands of the members brought together for joint cultivation as may be decided by the society but does not include any sum paid or payable as bonus to any employee of the society under the Payment of Bonus Act, 1965;

“Bye-laws” means bye-laws registered under this Act and for the time being in force and includes registered amendments of such by-laws;

"Central Bank" means a co-operative bank, the objects of which include the creation of funds to be loaned to other societies; but does not include the primary urban co-operative bank;

"Committee" means the Committee of management or board of directors “or the governing body or other directing body of a co-operative society, by whatever name called, in which the management of the affairs of a society is entrusted” under section 73; [* Was Substituted By MAH. XXIV of 1961]

"Company" means a company as defined in the Companies Act, 1956 and includes a Banking Company and also any board, corporation or other corporate body, constituted or established by any Central, State or Provincial Act for the purpose of the development of any industry;

“Consumer society” means a society, the object of which is –

the procurement, production or processing, and distribution of goods to or the performance of other services for, its members as also other customers, and

the distribution among its members and customers, in the proportion, prescribed by rules or by bye-laws of the society, of the profits accruing from such procurement, production or processing and distribution;

“Co-operative bank” means a Co-operative society which is doing the business of banking as defined in clause (b) of sub-sections (1) of section 5 of the Banking Companies Act, 1949 and includes any society which is functioning or is to function as an Agricultural and Rural Development Bank under Chapter XI;

“Co-operative Appellate Court“, means the Maharashtra Co-operative Appellate Court constituted under this Act;

“Co-operative Court” means a Court constituted under this Act to decide disputes referred to it under any of the provisions of this Act;

"Co-operative year" means a year ending on the 31st day of March or on such other day in regard to a particular society or class of societies as may have been fixed by the Registrar, from time to time for balancing its or their accounts;

"Crop Protection Society" means a society, the object of which is protection of the crops, structures, machinery, agricultural implements and other equipment such as those used for pumping water on the land;

Clause (10-B) deleted [* was deleted By MAH. XXIV of 1961]

"Dividend" means the amount paid, out of the profits of a society, to a member in proportion to the shares held by him;

expert director” means a person having experience in the field of banking, management, co-operation and finance and includes a person having specialization in any other field relating to the objects and activities undertaken by the concerned society”; [* Was inserted By MAH. XXIV of 1961]

"Farming society" means a society in which, with the object of increasing agricultural production, employment and income and the better utilization of resources; lands are brought together and jointly, cultivated by all the member, such lands (a) being owned by or leased to the member (or some of them) or (b) coming in possession of the society in any other manner whatsoever;

"Federal Society" means a society-

Not less than five member of which are themselves societies, and

in which the voting rights are so regulated that the members which are societies have not less than four-fifths of the total number of votes in the general meeting of such society;

“Firm” means a firm registered under the Indian Partnership Act, 1932;

“Functional director” means a Managing Director or a Chief Executive Officer by whatever designation called, and includes any Head of the Department, workman or representative of the recognised union of the concerned society, nominated by the Committee; [* Was inserted By MAH. XXIV of 1961]

“General society” means a society not falling in any of the classes of societies defined by the other clauses of this section;

housing society” means a society, the object of which is to provide its members with open plots for housing, dwelling houses or flats; or if open plots, the dwelling houses or flats are already acquired, to provide its members common amenities and services;

"lift irrigation society" means a society, the object of which is to provide water supply by motive power or otherwise to its members, for irrigation and otherwise;

"Liquidator" means a person appointed as liquidator under this Act;

"Local authority" includes a school board and an agricultural produce market committee constituted by or under any law for the time being in force;

“member” means a person joining in an application for the registration of a Co-operative society which is subsequently registered, or a person duly admitted to membership of a society after registration and includes a nominal, “or associate” [* Was Substituted By MAH. XXIV of 1961] member; and any depositor or financial services user of primary agricultural co-op credit society;

“Active member” means a member who participates in the affairs of the society and utilizes the minimum level of services or products of that society as may be specified in the by-laws; [* Was inserted By MAH. XXIV of 1961]

“Associate member” means a member who holds jointly a share of a society with others, but whose name does not stand first in the share certificate;

“Nominal member” means a person admitted to membership as such after registration in accordance with the bye-laws;

“Sympathizer member” means a person who sympathizes with the aims and objects of the society and who is admitted by the society as such member; [*was deleted By MAH. XXIV of 1961]

"officer" means a person elected or appointed by a society to any office of such society according to its bye-laws; and includes “any office bearer such as a chairperson, vice-chairperson, president, vice-president, managing director, manager, secretary, treasurer, member of the committee and any other person, by whatever name called” [*Was Substituted By MAH. XXIV of 1961] elected or appointed under this Act, the rules or the bye-laws, to give directions in regard to the business of such society

“Official Assignee” means a person or body of persons appointed by the Registrar under sub-section (2) of section 21-A;

“Prescribed” means prescribed by rules;

“Processing society” means a society, the object of which is the processing of goods;

“Producers’ society” means a society, the object of which is, the production and disposal of goods or the collective disposal of the labor of the members thereof;

“Registrar” means a person appointed to be the Registrar of Co-operative Societies under this Act;

“Resource society” means a society, the object of which is the obtaining for its members of credit, goods or services required by them;

rules” means rules made under this Act;

society” means a Co-operative society registered, or deemed to be registered, under this Act; “which is an autonomous association of persons, united voluntarily to meet their common needs and aspirations through a jointly owned and democratically controlled enterprise and adhering to the co-operative principles and values” [* Was inserted By MAH. XXIV of 1961]

"Society with limited liability" means a society having the liability of its members limited by its bye-laws;

"society with unlimited liability" means a society, the members of which are, in the event of its being wound up, jointly and severally liable for and in respect of its obligations and to contribute to any deficiency in the assets of the society;

State Co-operative Election Authority” means an authority constituted by the State Government under section 73CB [* Was inserted By MAH. XXIV of 1961]

Clause 30 deleted.

"Working capital" means funds at the disposal of a society inclusive of paid up share capital, funds built out of profits, and money rose by borrowing and by other means.