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Karnataka Co-operative Societies Act, 1959 Complete Act - Bare Act

StateKarnataka Government
Act Info:
Chapter I
Section 1 - Short title, extent and commencement
Section 2 - Definitions
Section 2A - Registrar, Additional Registrars, Joint Registrars, Deputy Registrars ,State Representatives and Assistant Registrars
Section 2AA - Director of Co-operative Audit], Additional Director of Co-operative Audit, Joint Directors of Co-operative Audit, Deputy Directors of Co-operative Audit and Assistant Directors of Co operative Audit
Section 2B - Tribunal
Chapter II
Section 3 - Omitted
Section 4 - Societies which may be registered
Section 5 - Registration with limited or unlimited liability
Section 6 - Application for registration of co-operative societies
Section 7 - Registration
Section 8 - Registration certificate
Section 9 - Co-operative societies to be bodies corporate
Section 10 - Change of name of co-operative society
Section 11 - Change of liability
Section 12 - Amendment of bye-laws of a co-operative society
Section 13 - When amendments of bye-laws come into force
Section 14 - Amalgamation, transfer of assets and liabilities and division of co-operative societies
Section 14A - Omitted
Section 14B - Registrar to prepare scheme for amalgamation of cooperative banks in certain areas
Section 14C - Liability of co-operative bank to the Deposit Insurance Corporation
Section 15 - Cancellation of registration certificates of co-operative societies in certain cases
Chapter III
Section 16 - Persons who may become members
Section 17 - Disqualification for membership
Section 18 - Nominal or associate members
Section 19 - Member not to exercise rights till due payment made
Section 20 - Votes of members
Section 21 - Manner of exercising vote
Section 22 - Omitted
Section 23 - Restrictions on transfers of shares or interest
Section 23A - Refund of value of share
Section 24 - Transfer of interest on death of member
Section 25 - Liability of past member and estate of deceased member
Chapter IV
Section 26 - Final authority in a co-operative society
Section 27 - Annual General Meeting
Section 28 - Special general meeting
Section 28A - Management of co-oerative societies vest in the committee
Section 28B - Committee to arrange for election
Section 29 - Nominees of Government on the committee of an assisted co-operative society
Section 29A - Commencement of term of office
Section 29B - Resignation of a member
Section 29C - Disqualification for membership of the committee
Section 29D - Omitted
Section 29E - Filling up of casual vacancy in the office of members of the Committee
Section 29F - Election of President, Chairperson, Vice-President, or Vice-Chairperson, etc.,
Section 29G - Appointment of Chief Executive
Section 30 - Supersession of committee
Section 30A - Omitted
Section 30B - Powers to give direction in public interest
Section 31 - Appointment of Special Officer
Section 31A - Delivery of possession of records and properties of the cooperative societies
Chapter V
Section 32 - First charge of co-operative society on certain assets
Section 33 - Charge on land, owned by members or held as tenants by members borrowing loans from certain co-operative societies
Section 34 - Deduction from salary to meet society's claim in certain cases
Section 35 - Charge and set off in respect of shares or interest of members in the capital of a co-operative society
Section 36 - Shares or interest not liable to attachment
Section 37 - Exemption from certain taxes, duties and fees
Section 38 - Exemption from compulsory registration of instruments
Section 39 - Registration of documents executed on behalf of co-operative societies
Section 39A - Conduct of elections
Section 39B - Cost of conducting elections
Section 39C - Corrupt practices
Section 39D - Maintenance of secrecy of voting
Section 39E - Officers etc. at election not to act for candidates or to influence voting
Section 39F - Prohibition of canvassing in or near polling station
Section 39G - Penalty for disorderly conduct in or near poling station
Section 39H - Penalty for misconduct at the polling station
Section 39I - Breaches of official duty in connection with election
Section 39J - Removal of ballot papers from polling station to be an offence
Section 39K - Other offences and penalties
Chapter VI
Section 40 - Promotion of co-operative movement
Section 41 - Direct partnership of State Government in co-operative societies
Section 42 - Indirect partnership of State Government in co-operative societies
Section 43 - Principal State Partnership Fund
Section 44 - Subsidiary State Partnership Fund
Section 45 - Approval of State Government for purchase of shares
Section 46 - Liability to be limited in respect of certain shares
Section 47 - Restriction on amount of dividend
Section 48 - Indemnity of apex and central societies
Section 49 - Disposal of share capital and dividend, etc
Section 50 - Disposal of 'Principal State Partnership Fund' and 'Subsidiary State Partnership Fund' on winding up of an apex or a central society
Section 51 - Principal State Partnership Fund and Subsidiary State Partnership Fund not to form part of assets
Section 52 - Agreement by State Government and apex societies
Section 53 - Other forms of State aid to co-operative societies
Section 53A - Nomination of members of committee by State Government in certain cases
Section 54 - Control of society assisted
Section 55 - Provisions of this Chapter to override other laws
Chapter VII
Section 56 - Funds not to be divided
Section 57 - Net profits and their disposal
Section 58 - Investment of funds
Section 59 - Restrictions on borrowings
Section 60 - Restrictions on loans
Section 61 - Restrictions on other transactions with non-members
Section 62 - Provident Fund
Chapter VIII
Section 63 - Audit
Section 64 - Inquiry by Registrar
Section 65 - Inspection of books of a co-operative society
Section 65A - Report of inquiry, inspection and final report to be made available to a credit agency
Section 65B - Inspection of books of co-operative society by a credit agency
Section 66 - Power to seize books and property
Section 67 - Costs of Inquiry
Section 68 - Order by the Registrar
Section 69 - Surcharge
Chapter IX
Section 70 - Disputes which may be referred to Registrar for decision
Section 70A - Period of limitation
Section 71 - Disposal of disputes
Section 71A - Powers of financing bank to proceed against members of a co-operative society for the recovery of money due to it from such society
Section 71B - Powers of credit agency to proceed against members of a co-operative society for the recovery of money due to it from such Society
Chapter X
Section 72 - Winding up of co-operative societies
Section 72A - Winding up of a co-operative bank if so, required by the Reserve Bank
Section 72B - Reimbursement to the Deposit Insurance Corporation by the Liquidators
Section 73 - Liquidator
Section 74 - Powers of Liquidator
Section 75 - Cancellation of registration of a co-operative society
Section 76 - Definitions
Section 76A - Application of Chapter to Agriculture and Rural Development Banks
Section 76B - State and other Agriculture and Rural Development Banks
Section 77 - Appointment of Trustee and his powers and functions
Section 78 - Trustee to be a corporation sole
Section 79 - Issue of debentures
Section 80 - Charge of debenture holders on certain properties
Section 81 - Guarantee by State Government of principal of, and interest on, debentures
Section 82 - Other guarantees by State Government
Section 82A - Powers of Land Development Banks to advance loans and to hold lands
Section 82B - Mode of dealing with applications for loans
Section 82C - Order granting loan conclusive of certain matters
Section 83 - Priority of mortgage over certain claims
Section 84 - Right of Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank to purchase mortgaged property
Section 85 - Mortgages executed in favour of Agriculture and Rural Development Bank to stand vested in State Agriculture and Rural Development Bank
Section 85A - Registration of mortgage or lease in favour of Land Development Banks
Section 86 - Power of Agriculture and Rural Development Bank to receive moneys and grant discharges
Section 86A - Recovery of Loans by development banks
Section 87 - Right of Agriculture and Rural Development Bank to pay prior debts of mortgagor
Section 87A - Mortgages executed by managers of joint Hindu families
Section 87B - Restrictions on lease
Section 88 - Distraint - When to be made
Section 89 - Power of sale when to be exercised
Section 89A - Confirmation of sale
Section 89B - Disposal of sale-proceeds
Section 89C - Certificate to purchase, delivery of property and title of purchaser
Section 89D - Recovery of loans on certificate by Registrar
Section 89E - Deputy Commissioner to make recoveries during a certain period
Section 89F - Officers of banks not to bid at sales
Section 89G - Section 40 of Bombay Act 28 of 1947 not to apply to alienation in favour of Land Development Banks
Section 89H - Provision for Guarantee Funds to meet certain losses
Section 90 - Powers of Agriculture and Rural Development Bank where mortgaged property is destroyed or security becomes insufficient
Section 91 - Power of Board or of Trustee to distrain and sell property, etc
Section 92 - Title of purchaser not to be questioned on the ground of irregularity, etc
Section 93 - Mortgage not to be questioned on insolvency of mortgagor
Section 94 - Appointment of receiver and his powers
Section 95 - Mortgagor's powers to lease
Section 96 - Delegation of certain powers by Board
Section 97 - Sections 102, 103 and 104 of the Transfer of Property Act, 1882, to apply to notices under this Chapter
Section 98 - Power to Board of State Agriculture and Rural Development Bank to supervise Agriculture and Rural Development Bank and make regulations
Chapter XII
Section 99 - Enforcement of charge
Section 100 - Recovery of moneys due to Societies
Section 101 - Execution of orders, etc
Section 101A - Transfer of property made after issue of certificate void against co-operative society
Section 101B - Transfer of property which cannot be sold
Section 101C - Omitted
Section 102 - Registrar or person empowered by him to be a civil court for certain purposes
Section 103 - Attachment of property before award or order
Section 104 - Recovery of sums due to Government
Section 104A - Application of this Chapter to Co-operative Societies in other States
Chapter XIII
Section 105 - Appeals to the Tribunal
Section 105A - Appeals relating to admission of members to societies
Section 106 - Appeals to other authorities
Section 107 - Revision by Tribunal
Section 108 - Powers of revision of State Government
Section 108A - No appeal or revision in certain cases
Chapter XIV
Section 109 - Offences
Section 110 - Offences by Companies
Section 110A - Power to compound offences
Section 111 - Cognizance of offences
Chapter XV
Section 111A - Omitted
Section 111B - Preservation of records
Section 112 - Prohibition against the use of the word "Co-operative"
Section 113 - Address of a co-operative society
Section 114 - Copy of Act, rules and bye-laws to be open to inspection
Section 115 - Omitted
Section 116 - Orders to be pronounced
Section 117 - Procedure for settlement of disputes and power of the Registrar or any other person to whom a dispute is referred for decision under section 70
Section 118 - Bar of jurisdiction of courts
Section 119 - Application of Limitation Act
Section 120 - Power to exempt societies from conditions of registration
Section 121 - Omitted
Section 122 - Register of Members
Section 123 - Proof of entries in co-operative societies, books
Section 124 - Service of notice under the Act
Section 125 - Notice necessary in suits
Section 126 - Acts of co-operative societies not to be invalidated by certain defects
Section 126A - Omitted
Section 127 - Indemnity
Section 127A - Office bearers, members and employees of co-operative societies to be public servants
Section 128 - Companies Act, 1956, not to apply
Section 128A - Constitution of a common cadre
Section 128B - Duties of police officer
Section 129 - Powers to make rules
Section 129A - Model bye-laws
Section 130 - Rules and orders to be laid before State Legislature
Section 131 - Repeal and savings
Section 132 - Power to remove difficulties

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