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Co-Operative Societies Act 2008 Part IV Management 50. Board of directors 1. Every society shall be managed by a Board of directors which shall be constituted in accordance with this Act and the by- the society. 2. The Board shall be constituted by not less than 5 and not more than 13 directors, as specified in the by-laws. 3. The members of a society may amend the by-laws to vary the number of directors, but no amendment to decrease the number of directors affects an incumbent director. 4. A person who- a. has been sentenced by a court in any country for an offence involving dishonesty and has not received a free pardon for that offence; b. is in default of debts owed to the society or compounds with his creditors; c. is of unsound mind and has been so found by a court in d. is or becomes bankrupt; e. is under the age of 18 years; f. is not a member of the society or a duly appointed representative of a member society; or g. is already part of the management of another society of the same type, may not constitute part of the management of a society until his disability is removed, but he may retain his membership of the society during the period of such disability. 1. 2. 3. 4. 5. For the purposes of this Part “management” includes- a. a person who holds membership of any committee established by a society; and (b) a person who is employed by the Board.    |
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