As per Sec. 2(7) of the Maharashtra Co-Operative Societies Act, Committee means the Committee of management or board of directors or other directing body, by whatever name called, in which the management of the affairs of a society is vested under section 73.
As per the Bye-law No. 3 (iv), the term “Committee” means the committee of management or other directing body to which management of the affairs of the society is entrusted.
The Chairman, Secretary and Treasurer of the society shall hold office for a period of 5 years from the date on which he is elected. After appointment it is obligatory for the members of the Managing Committee to sign a Indemnity bond and M-20 bond within stipulated period to the effect that they are individually and severally liable for the decision taken by the Society.
The Managing Committee Member can be removed if he becomes a defaulter and if he remains absent in the Managing Committee Meeting.
After completion of tenure, the Managing Committee Member has to prepare list of record and handover the charge to the new Committee. As per Sec. 73-H (2) of the Maharashtra Co-Operative Sicieties Act 1960, the Committee shall cease to function on the expiration of its term.
Sometime after expiration of tenure, the earlier Committee refuses to handover the charge of the records of the Society to the new Managing Committee in such cases the office bearers of the newly elected Committee may request the Chairman and Secretary of the outgoing committee to prepare the list of the inventories and to handover the same to the Chairman of the society.
The office bearers may also write to the Registrar of Co-operative Society. The Registrar may make the necessary inquires and may empower any person on his behalf to receive the charge of the records of the Society. On receipt of a written directive from the Registrar the Ex- Chairman should handover the records. If the Ex-Chairman does not comply with the abovesaid directive then on conviction he can be punished with simple imprisonment which may extend upto one month or with a fine or both.
The Registrar or person authorized by him may also apply to the Executive Magistrate within whose Jurisdiction the society is functioning for seeking and taking possession of the records and property of the society. If the Magistrate is satisfied that immediate action is required then he may authorize any Police Officer above the rank of Sub- Inspector to enter and search any place where the record and property are kept or likely to be kept and to seize them and handover the possession thereof to the Registrar or the person authorized by him as the case may be.