What are the provisions of Co-Operative Housing Society registration in maharashtra?

READ IN MARATHI

The provisions for cooperative housing society registration in Maharashtra are governed by the Maharashtra Cooperative Societies Act, 1960.

The provisions of cooperative housing society registration define the rules and requirements that govern the process of forming and registering a cooperative housing society. These provisions are outlined in the relevant legislation, such as the Maharashtra Cooperative Societies Act, 1960, and its associated rules. They provide a legal framework for the formation, structure, and functioning of Co-Operative Housing Societies in Maharashtra.

Some of the key provisions of the Maharashtra Co-Operative Societies Act with respect to housing societies are:

1. Eligibility: Any group of five or more individuals who wish to form a Co-Operative Housing Society can apply for registration under the MCS Act.

2. Bye-laws: The society must prepare and adopt its own bye-laws. The bye-laws must be consistent with the provisions of the MCS Act.

3. Membership: Any individual who agrees to comply with the bye-laws of the society can become a member of the Co-Operative Housing Society.

4. Share Capital: Each member of the society is required to subscribe to the share capital of the society. The share capital amount may vary based on the size and nature of the housing project.

5. Management Committee: The affairs of the society shall be managed by a management committee elected by the members. The committee shall consist of a Chairman, a Secretary, a Treasurer, and such other members as may be specified in the bye-laws.

Calculation of Rate of Interest on Co-Op Housing Society Dues

6. Registration: The society must apply for registration to the Registrar of Cooperative Societies of the concerned district. The application must be accompanied by a copy of the memorandum of association, the bye-laws of the society, and a statement of the names, addresses, and occupations of the members of the management committee.

7. Certificate of Registration: Once the Registrar is satisfied that the society has complied with all the provisions of the MCS Act, he shall issue a certificate of registration to the society.

8. Meetings: The society shall hold regular general body meetings of its members. The management committee shall also hold regular meetings to manage the affairs of the society.

9. Maintenance Fund: The society shall create a maintenance fund to ensure that the common amenities and facilities are maintained properly.

10. Dispute Resolution: The MCS Act provides for the resolution of disputes between members and the management committee of the society.

It is important to note that the above provisions are only a brief overview of the Maharashtra Co-Operative Societies Act, 1960. It is recommended that individuals seeking to register a Co-Operative Housing Society in Maharashtra consult the Act and seek legal advice if necessary.

Read also 👇

 What is the Real Estate Act (RERA) in India and what are its key features? How has it impacted the real estate sector in India and what are the challenges in implementing RERA? 

1. Website –     https://www.dearsociety.in/
2. Instagram –  https://instagram.com/dearsocietymh?igshid=NmE0MzVhZDY=
3. LinkedIn –    https://www.linkedin.com/company/dear-societyin/
4. Facebook –   https://www.facebook.com/dearsocietyMH?mibextid=ZbWKwL