FAQ

Bye-law No. 64

64. f. PAYMENT OF INTEREST VALUE

On realisation of the demand draft and within one month of the admission of the said person to Membership of the Society, the Committee shall arrange to pay the value of the interest in the flat realised by the Society,
i. To the Member whose resignation has been accepted by the Committee, or
ii. To the nominee/s legal heir/s of the deceased Member who demanded payment of the value of the Shares and the interest in the capital or property of the Society or
iii. To the expelled Member Together with the value of the shares as determined under (i) above and after deducting the following
a. outstanding amounts, if any, due from such Member.
b. the entire expenses of the publication of the notice.
c. Expenses incurred for the disposal of the interest of the Member in the property/capital of the Society.

The payment shall be made in the manner provided under the bye-laws Nos. 36, 37 and 55 to the nominee/nominees or heir/heirs, respectively.

Bye-law No. 64

Wherever the question of payment of the value of the shares and the interest of any Member of the Society, in its capital/property, as the result of the acquisition of the same by the Society arises, the following procedure shall be followed:

64. a. SHARE & INTEREST VALUATION CRITERIA

The value of Shares or interest in the share capital of the society shall be decided in accordance with the provisions of Section 29 read with Rule 23 of the MSCS Rules

64. b. SHARE & INTEREST VALUER

The interest of the expelled Member in the property/capital of the Society, shall be valued by the Government approved valuer.

Bye-law No. 74

74. CHARGE ON SHARES AND INTEREST OF A MEMBER

The Society shall have a charge on the shares and/or interest of a Member, present or past, in the capital/property of the Society and upon any dividend, bonus or profits, payable to a Member in respect of any charges due from such Member or past Member to the Society and may set off any sum credited by or payable to a Member, in or towards there payment of such charges, as provided under Section 46 of the Act.

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. 69

69. PREPARATION OF BILL AND PAYMENT OF SOCIETY CHARGES

The Secretary of the Society, shall prepare bill/demand notice in respect of the charges of the Society payable by Members on the basis of the bye-law No. 70 (a) and issue the same to all the Members on or before the date fixed by the Committee in that behalf. Every Member of the Society shall pay the amount mentioned in the bill /demand notice in full within such period as may be fixed
by the Committee.

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. 71

71. SIMPLE INTEREST ON OUTSTANDING DUES

A Member shall be required to pay simple interest at twenty one percent per annum, or, at such lower rate as may be fixed by the General Body, on the outstanding dues to the Society, from the date the amount was due as prescribed under Bye-law no. 69, till full and final payment by the Member

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. 66

66. SOCIETY’S SERVICE CHARGES BREAKUP

The Service charges of the Society referred to at 64 (vii) above shall include the following:
a. Salaries of the office staff, liftmen, watchmen, malis, and any other employees of the Society.
b. Where the Society hasindependent Office, the property taxes, electricity charges, water charges etc. for the same.
c. Printing, Stationery and Postage,
d. Travelling Allowance and conveyance charges to the staff and the Members of the Committee of the Society.
e. Sitting fees paid to the Members of the Committee of the Society,
f. Subscription to the Education Fund of the Maharashtra Rajya Sahakari Sangh Ltd.
g. Annual Subscription of the Housing Federation and any other co-operative institution to which the Society is affiliated.
h. Entrance fees for affiliation to the Housing Federation and any other cooperative institution.
i. Audit Fees for internal, Statutory, and reaudit, if any.
j. Expenses incurred at meetings of the general body, the Committee and the Sub-Committee, if any

k. Retainer fees, legal charges, statutory enquiry fees.
l. Common electricity charges.
m. Any other charges approved by the General Body at its Meeting.

However such charges should not contradict the provisions of the Act, Rules and Bye-laws of the Society.

Bye-law No. 48

48. RESTRICTIONS ON STORAGE OF GOODS

No Member, without the previous permission of the Committee, in writing shall stock or store any kind of goods or materials, which are combustible obnoxious or other goods, for the storing of which requires permit / sanction of the competent authority under any law relating thereto.

48.a. RESTRICTIONS ON CAUSING INCONVENIENCE

No Member shall do or suffer anything to be done in his fiat which may cause
nuisance, annoyance or inconvenience to any of the Members of the Society
or carry on practices which may be repugnant to the general decency or
morals of the Members of the Society.

48. b. COMMITTEE’S ACTION AGAINST COMPLAINTS

It shall be competent for the Committee either sou-moto or on receipt of the
complaint from any Member, to take steps to stop all such practices referred
to in the bye-law No. 47(a) forthwith.

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. 47

47. a. EXAMINATION OF FLATS FOR REPAIRS

For facilitating discharge of functions mentioned under the bye-law No. 156 by the Committee, every Member shall allow the Secretary of the Society, accompanied by any other Member of the Committee, to enter upon his flat with prior intimation to the Member, to examine its condition for ascertaining the repairs, if any, necessary. The Secretary of the Society shall make a report to the Committee, indicating therein the particulars of the repairs to be carried out by the Society at its cost and those by the Members at their cost.

47. b. NOTIFYING MEMBERS OF THE REPAIR AT SOCIETY’S COST

On receipt of such report, the committee shall ascertain the cost involved in the repairs, which are required to be carried out by the Society at its cost as provided under the bye-law No. 160(a) and cause the notice to be served on the Member for such period as the Committee thinks adequate, of its intention to carry out the repairs and there-upon the Member concerned shall allow the workmen engaged by the Society directly or through its architect, access to his flat for carrying out the repairs. If the Member concerned fails to give access to his flat, without reasonable and convincing
reasons, the Secretary of the Society shall have authority to enter upon the flat and carry out the work under the Supervision of the Member of the Committee duly authorised by it in that behalf or the architect appointed by the Society.

47. c. NOTIFYING MEMBERS OF THE REPAIR AT MEMBER’S COST

In respect of the repairs to be carried out by the Member at his cost, the Committee shall cause the notice to be served on the Member, indicating therein, the particulars of repairs necessary at his flat and calling upon him to carry out the repairs to his flat to the satisfaction of the architect approved
by the Society, if any, at his cost, within such period as the Committee may allow. On his failure to comply with the notice, the Secretary of the Society or the architect appointed by the Society shall have authority to enter upon the flat and cause the repairs to be carried out after giving due notice to the Member concerned. The amount spent by the Society on such repairs shall be recoverable from the Member concerned.

Bye-law No. 68

68. a. REPAIRS & MAINTENANCE CARRIED OUT BY SOCIETY

The following repairs and maintenance of the property of the Society shall be carried out by the Society at its costs:
(i) All internal roads,

(ii) Compound walls,

(iii) External water pipe lines,

(iv) Water pumps,

(v) Water storage tanks,

(vi) Drainage lines,

(vii) Septic tanks,

(viii) Stair cases,

(ix) Terrace and parapet walls,

(x) Structural repairs of roofs of all flats,

(xi) Stair-case lights,

(xii) Street lights,

(xiii) External walls of the building/ buildings,

(xiv) All leakages of water including leakages due to rain water, and leakages due to external common pipe line and drainage line,
(xv) Electric lines upto main switches in the flats

(xvi) Lifts,

(xvii) The damaged ceiling and plaster thereon in the top floor flats, on account of the leakage of the rain water through the terrace.

(xviii) Generators,

(xvix) Security Appliances (CCTV, Intercom, Group Mobile, Mass Data Sharing Devices, Siren Bell)

(xx) Rain Water Harvesting,

(xxi) Sewerage, Storm water Drain & Water Treatment Plant

(xxii) Common areas not specifically allotted, Swimming Pool, Gym, Sauna Bath, Coffee House

(xxiii) Common Parking Space

(xxiv) Solar and alternate energy devices.

(xxv) Garden

(xxvi) Community hall

68. b. REPAIRS & MAINTENANCE CARRIED OUT BY MEMBER

All the repairs, not covered by the byelaw No. 158 (a) shall be carried out by the Members at their cost. The expenditure of the internal leakage due to toilet, sink etc. should be borne by concerned flat holders, with intimation to the Society