This Act provides for the registration, operation and management of co-operative Societies in Bihar. The Act empowers the State government to appoint a person to be the Registrar of Co-operative Societies and details out the process of the registration. The Act details out the incorporation procedure, duties and privileges of registered societies. The Act further provides for the establishment of a managing committee in each society and details out the funding of co-operative societies, rights and liabilities of members audit, inquiry, winding up and dissolution of co-operative societies, land development co-operative banks, offences and penalties; etc. Additionally, the Act contains special provisions for primary agricultural credit society, farmers’ service society and multi-purpose co-operative society.
India · 1935-01-01