FAQ

Bye-law No. 5

The objects of the Society shall be as under :

5. a. OWNERSHIP

a) To obtain conveyance from the Owner/ Promoter Builder, in accordance with the provisions of the Ownership Flats Act and the Rules made there under, of the right, title, and interest, in the land with building/ buildings thereon, the details of which are as hereunder :
The building / buildings known / numbered as _______ constructed on the plot / plots nos_______ / Survey no. _______ / CTS no _______ of _______  ( village / taluka ) admeasuring _______ sq. meters, more particularly described in the application for registration of the Society;

OR (APPLICABLE FOR PLOT PURCHASED TYPE SOCIETY )
a) To buy or take on lease a plot or plots nos_______/Survey no. _______ / CTS no _______ of _______ admeasuring _______ sq. mts. and to construct flats thereon for allotment to the Members of the Society for their authorized use.

OR
a) To purchase a building or buildings known as _______ Constructed on the plot / plots nos / survey no. / CTS no _______  of _______ admeasuring _______ sq. mts. for allotment of flats therein to the Members of the Society for their authorized use.

5. b. MANAGE

To manage, maintain and administer the property of the Society;

5. c. RAISE FUNDS

To raise funds for achieving the objects of the Society;

5. d. COMMUNITY ENGAGEMENT

To undertake and provide for, on its own account or jointly with a cooperative or Other Institution Social, Cultural or Recreational activities;

5. e. COOPERATIVE EDUCATION & TRAINING

To provide Co-operative Education and Training to develop co-operative skills of its Members, Committee Members, Officers and Employees of the Society.

5. f. FULFILLMENT OF SOCIETY OBJECTS

To do all things, necessary or expedient for the attainment of the objects of the Society, specified in these bye-laws.

Bye-law No. 1

1. a. NAME

The Name of the Society shall be _____________________________

1. b. NAME CHANGE

The Society shall follow the procedure laid down under Section 15 of the Act and Rule 14 of the Rules for the change of its name.

1. c. CLASSIFICATION

The Society is classified under the major class “Housing” with subclass “Tenant Ownership / Tenant Co-partnership / Other Housing Society.“

Bye-law No. 2

2. a. REGISTERED ADDRESS

The registered address of the Society shall be as under:
______________________________________________________________________________________

2. b. CORRESPONDENCE ADDRESS

Address for Correspondence (as decided by the Managing Committee)
______________________________________________________________________________________

2. c. INTIMATION FOR CHANGING REGISTERED ADDRESS

Any change in the registered address of the Society shall be intimated by it to the Registering Authority and all others concerned within 30 days of such change.

2. d. CHANGING REGISTERED ADDRESS

Any change in the registered address of the Society shall be made after following the procedure laid down in the Rules.

2. e. SOCIETY BOARD

The Society shall exhibit at a conspicuous place at the main entrance of the building, a Board indicating its name, registration number, and registered address.

Bye-law No. 36

36. PAYMENT OF VALUE OF SHARES TO NOMINEE(S)

If there is the single nominee and if he demands payment of the value of Shares and interest of the deceased Member, in the capital/property of the Society, the Society shall acquire the same and pay him the value thereof as provided under the bye-law No.63. If, however, there are more nominees than one and if they demand payment of the value of the shares and interest of the deceased Member in the capital/property of the Society, the Society shall acquire the same and pay them value thereof as provided under the bye-law referred to above in the proportion mentioned in the nomination form. If no proportion is mentioned in the nomination form, the payment shall be in equal proportions.

Bye-law No. 37

37. PAYMENT OF VALUE OF SHARES TO HEIR(S)

If, in the opinion of the Committee, there is only one heir / legal representative of the deceased Member and if he demands payment of the value of the shares and interest of the deceased Member in the capital/property of the Society, the Society may acquire the same and pay him the value thereof as provided under the bye-law No. 63 after obtaining the indemnity bond referred
to in the bye-law No. 34. If, in the opinion of the Committee, there are more heirs/legal representatives than one and if they demand payment of the value of Shares and interest of the deceased Member in the capital/property of the Society, the Society may acquire the same and pay them value thereof in equal proportion as provided under the bye-law No. 66, after obtaining the Indemnity Bond referred to in the bye-law No. 35, from all the heirs/legal representatives
jointly.

Bye-law No. 38

38. a. SHARE TRANSFER APPLICATION

A Member, desiring to transfer his shares and interest in the capital/property of the Society shall give 15 days notice of his intention to do so to the Secretary of the Society in the prescribed form, along with the consent of the proposed transferee in the prescribed form.

38. b. APPLICATION IN COMMITTEE MEETING

On receipt of such notice, the Secretary of the Society shall place the same before the meeting of the Committee, held next after the receipt of the notice, pointing out whether the Member is prima-fascia eligible to transfer his shares and interest in the capital/property of the Society, in view of the provisions of Section 29(2)(a) of the Act.

38. c. COMMUNICATION IN EVENT IF INELIGIBILITY

In the event of ineligibility (in view of the provisions of section 29(2)(a) & (b) of the act) of the Member to transfer his shares and interest in the capital/property of the Society, the Committee shall direct the Secretary of the Society to inform the Member accordingly within 8 days of the decision of the Committee.

38. d. NO OBJECTION CERTIFICATE

“No Objection Certificate” of the Society is not required to transfer the shares and interest of the transferor to transferee. However in case such a certificate is required by the transferor or transferee, he shall apply to the Society and Committee of the Society may consider such application on merit, within one month.

Bye-law No. 9

9. a. SHARE CERTIFICATE

A Share Certificate, prescribed in bye-laws, bearing a distinctive number and indicating the name of the Member, the number of shares issued, and the value paid thereon, shall be issued by the Society to every Member for the shares subscribed by him, within a period of six months of the allotment of the shares.

9. b. DUPLICATE SHARE CERTIFICATE

The Committee of the Society shall issue a duplicate share certificate, “So Marked”, on application to its members on production of the following documents.
1. if the share certificate is lost – copy of police complaint lodged, and an affidavit in that regard.
2. if the share certificate is soiled, burnt, torn, disfigured etc. affidavit in that regard.

Bye-law No. 10

10. AUTHENTICATING THE SHARE CERTIFICATE

Every such Share Certificate shall bear the seal of the Society and be signed and by the Chairman, the Secretary and one Member of the Committee, duly authorised by the Committee. The same shall be issued by the Secretary of the Society.

Bye-law No. 8

8. DETERMINING AUTHORISED SHARE CAPITAL

The Authorised Share Capital of the Society shall be Rs __________ divided into __________ shares of Rs. 50 each.

Bye-law No. 44

44. RESTRICTIONS ON OCCUPANCY RIGHT

No Member of the Society shall assign, mortgage or create any charge on his occupancy right in the flat without the previous permission in writing of the Society. Provided that such permission of the Society will not be required for assigning, mortgaging or creating any charge on the occupancy right in the flat for the purpose of obtaining loan, either for purchase of the flat or for liquidating the liability incurred by him for the said purpose by way of loan or advance from the employer or the Member or from the Life Insurance Corporation of India or from a Bank or the Society or any other agency approved by the Commissioner for Co-operation and Registrar, C.S.M.S. Pune.

Bye-law No. 25

25. RESTRICTION ON ASSOCIATE MEMBER

No Associate Member shall have any rights or privileges of an active Member except as provided under Section 27(2) of the Act and he fulfills the conditions of bye-law 22(a)

Bye-law No. 26

26. RESTRICTION ON NOMINAL MEMBER

A nominal Member shall have no rights such as Member.

Bye-law No. 31

31. ACQUISITION OF SHARES

On acceptance of the resignation of the Member, under bye-law No. 27, the Society shall acquire the shares and interest of the Member in the capital/ property of the Society and pay him the value thereof as provided under the bye-law No. 66.

Bye-law No. 12

12. a. CONSTITUTION OF RESERVE FUND

The Reserve Fund of the Society shall comprise of —
i. all entrance fees received by the Society from its Members;

ii. all transfer fees received by the Society from its Members on transfers of the shares, along with the occupancy rights;
iii. all premiums received by the Society from its Members on transfers of their interest in the capital or property of the Society;
iv. the amounts carried to the said fund, from year to year, out of the net profit / surplus of that year, subject to the provisions of Section 66 (1) and (2) of the Act;
v. all donations received by the Society, except those received by it for the specific purpose.

12. b. APPROPRIATION OF RESERVE FUND

The Society shall, while finalizing the accounts for the preceding cooperative year, appropriate all amounts referred to in the bye-law no. 12(a)(i) to (v) to the Reserve Fund of the Society

Bye-law No. 23

23. a. SOCIETY BOOKS, REGISTERS & DOCUMENTS

A Member shall have the right to inspect free-of-cost books, registers documents etc. as provided in Section 32 (1) of the Act and get copies of the documents as provided under Section 32 (2) of the Act, on payment of the fees prescribed under the bye-law No. 172.

23. b. BYE-LAWS & AUDIT REPORT

A Member shall be entitled to receive a copy of the Approved Bye-laws, Audit Report of the Society, on payment of charges prescribed thereof.

Bye-law No. 7

7. MODES OF FUND RAISING

The funds of the Society may be raised in one or more of the following ways:
a. by entrance fees,
b. by issue of shares,
c. by loans and subsidies,
d. by deposits,
e. by voluntary donations, (but not from Transferor and Transferee)
f. by contributions towards cost of building or buildings,
g. by fee on transfer of shares, along with the occupancy right, assignment
h. by premium on transfer of occupancy right over the flats,
i. by corpus fund from Promoter Builder
j. by any other mode permitted under these bye-laws,
k. by way of statutory requirements.
l. by way of non-occupancy charges, leasing/hiring of open spaces
m. by way of corpus fund, in case of redevelopment 

Bye-law No. 34

34. TRANSFER OF SHARES & INTEREST TO NOMINEE(S) POST MEMBER’S DEATH

Subject to the provisions of the Section 30 of MCS Act. 1960 bye-law No. 17A or 19, on the Death of a Member, the Society shall transfer the shares and interest of the deceased Member in the Capital/Property of the Society to the Nominee/Nominees and in proportion with the shares and interest held by the deceased Member, in case property is purchased by Member and associate
Member jointly. In the event of death of the Member, Nominee/Nominees shall submit the Application for Membership, within six months from the death of a Member. If there are more than one Nominee, on the death of a Member, such Nominees shall make Joint Application to the Society and indicate the name of the Nominee who should be enrolled as Member. The other nominees shall be enrolled as Joint/Associate Members unless the nominees indicate otherwise.
The nominees shall also file an Indemnity Bond in the prescribed form Indemnifying the Society against any claims made to the shares and interest of the deceased Member in the Capital/Property of the Society by any of them, in case only one nominee is indicated by the Nominees for Membership of the Society.

Note:- In case of acquiring Membership on the basis of Nomination, such Member shall hold the flat/unit in ‘trust’ till all the Legal Heirs are brought on record and shall not have the right to ownership and shall not create third party interest or alienation in any way whatsoever.

Bye-law No. 35

35. TRANSFER OF SHARES & INTEREST TO HEIR POST MEMBER’S DEATH

Where a Member of the Society dies without making a nomination, or no nominee comes forward for transfer, the Society shall invite within six month from the information of his death, claims or objections to the proposed transfer of Shares and interest of the deceased Member, in the capital/property of the Society, by a public notice, in the prescribed form, exhibited on the notice board of the the Society. It shall also publish such notice in at least two local news papers, having wide circulation. The entire expenses of publication of the notice shall be recoverable from the value of shares and interest of the deceased Member in the capital/property of the Society. After taking into consideration the claims or objections received, in response to the said notice, and after making
such inquiries as the committee considers proper in the circumstances prevailing, the committee shall decide as to the person, who in its opinion is the heir or legal representative of the deceased Member. Such a person will be eligible to be a Member of the Society subject to the provisions of the bye-laws Nos. 17(a) or 19, provided that he gives an Indemnity Bond along with his application for Membership in the prescribed form, indemnifying the Society against any claims made to the shares and interest of the deceased Member in the capital/ property of the Society, at any time in future, by any person. If there are more claimants than one, they shall be asked to make the affidavit as to who should become a Member of the Society and such person, named in the affidavit shall furnish the indemnity bond as indicated above along with application for Membership, referred to above. If however, the committee is not able to decide as to the person who is the heir/legal representative of the deceased Member or the claimants do not come to the agreement, as to who should become the Member of the Society, the Committee shall call upon them to produce succession certificate from the Competent Court. If, however, there is no claimant, the shares and interest of the deceased Member in the capital/property of the Society shall vest in the Society

Bye-law No. 28

28. ASSOCIATE MEMBER RESIGNATION

An Associate Member may resign his Membership any time by writing the letter of resignation to the Secretary of the Society, through the Member, with whom he held the shares of the Society jointly. The Secretary of the Society shall place the letter of the resignation of the Associate Member, before the meeting of the Committee, held next after the receipt of the letter of the resignation, duly recommended by the Member for acceptance by the Committee. The decision of the Committee, accepting the resignation of the Associate Member shall be communicated by the Secretary of the Society to the Member and his associate Member within 15 days of the decision by the Committee. If the resignation is rejected, the Committee shall record the reasons therefore in the minutes of its
meeting and the Secretary shall communicate the same to the Member and his associate Member within the time specified above.

Bye-law No. 29

29. NOMINAL MEMBER RESIGNATION (CORPORATE REPRESENTATIVE)

If there is a nominal Member, occupying the flat on behalf of a firm, company or any other body corporate, he/she may resign his nominal Membership, at any time, by writing the letter of the resignation to the Secretary of the Society through the firm, the company or any other body corporate, on whose behalf he is occupying the flat. The Secretary of the Society shall place the letter of resignation, before the meeting of the committee, held next after the receipt of the letter of the resignation of the Nominal Member, duly recommended by the firm, the company or any other body corporate for acceptance by the Committee. The decision of the Committee, accepting the resignation shall be communicated by the Secretary of the Society to the firm, company or the body corporate and the nominal Member, within 15 days of the decision by the Committee. If the resignation is rejected, the Committee shall record reasons therefor in the minutes of its meeting and the Secretary shall communicate the same to the firm, company or the body corporate and the nominal Member within the time specified above.

Bye-law No. 30

30. NOMINAL MEMBER RESIGNATION (RENTAL, ETC.)

A sub-letter, licensee, caretaker or possessor of a flat or part thereof, who has been admitted as a nominal Member of the Society may resign his nominal Membership at any time, by writing the letter of the resignation to the Secretary of the Society, through the Member who has been permitted by the Committee to sub-let, give on leave and licence or caretaker basis the flat or part thereof or
part with its possession in any other manner. The Secretary of the Society shall place the letter of the resignation before the meeting of the Committee, held next after the receipt of the letter of the resignation duly recommended by the Member concerned for acceptance by the Committee. The decision of the Committee, accepting the resignation shall be communicated by the Secretary
of the Society to the Member concerned and his sub-lettee the licensee, the caretaker, or as the case may be, the possessor of the flat or part thereof, within 15 days of the decision by the Committee. If the resignation is rejected, the Committee shall record reasons there for in the minutes of its meeting and the secretary of the Society shall communicate the same to the Member concerned and his sub-lettee, licensee or caretaker etc. within the time specified above.

Bye-law No. 13

The Society shall create and establish the following funds by collecting contributions from its Members at the rates mentioned hereunder :

13. a. REPAIRS & MAINTENANCE FUND

The Repairs and Maintenance Fund, at the rate fixed at the general body subject to the minimum of 0.75 per cent per annum of the construction cost of each flat, incurred during the construction of the building of the Society and certified by the Architect, for meeting expenses of normal recurring repairs of the Society’s buildings/property.

13. b. MAJOR REPAIRS FUND

Major Repairs Funds, as and when required and decided by the General Body at the rate fixed pro-rata on area basis.

13. c. SINKING FUND

The Sinking Fund at the rate decided at the meeting of the general body, subject to the minimum of 0.25 per cent per annum of the construction cost of each flat incurred during the construction of the building of the Society and certified by the Architect, excluding the proportionate cost of the land.

13. d. EDUCATION & TRAINING FUND

To create Education and Training Fund from contribution by the Members Rs 10 per month / per unit or as decided by the General Body.

Bye-law No. 19

19. b. ASSOCIATE MEMBERSHIP CONDITIONS

An Individual, a Firm, a Company or a Body Corporate, registered under any Law for the time being in force, who/ which is eligible to be an Associate Member and who/which shall apply through Member in the prescribed form for such Membership, along with the entrance fee of Rs. 100/-, may be admitted as Associate Member by the Committee.

Bye-law No. 20

20. NOMINAL MEMBERSHIP CONDITIONS

A sublettee, a licensee, a care-taker, or occupant who is eligible to be a Nominal Member and who shall apply through Member for such Membership in the prescribed form applicable, along with entrance fee of Rs. 100/- may be admitted as Nominal Member by the Committee.

Bye-law No. 21

21. DISPOSAL OF MEMBERSHIP APPLICATIONS

The procedure for disposal of Application for Membership of the Society, as laid under the bye-law No. 65 (a) to (g) shall be followed by the Secretary and the Committee of the Society.

Bye-law No. 4

4. AREA OF OPERATION

The area of operation of the Society shall be confined to ___________________________________

Explanation :
1) For the Society in the Brihan Mumbai insert City Survey no / Gat no. / Final Plot no / Ward no
2) For the Societies at other places, insert City Survey no / Gat no. / Final Plot no / Ward / Corporation- Municipal limits / Town / Village / Taluka / District 

Bye-law No. 40

40. TRANSFEREE’S MEMBERSHIP RIGHTS

The Transferee shall be eligible to exercise the rights of Membership on receipt of the letter in the prescribed form from the Society or order under section 22 or 23 of the Act from the Registrar; subject to the provisions of the MCS Act 1960, Rules and Bye-laws