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October 5, 2025
SHARE CAPITAL UNDER BYE-LAWS FOR SOCIETY FORMATION The Authorized Share Capital of the Society shall be Rs …………………………..divided into …………… shares of Rs. 50 each A Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the Member, the number of shares issued and the value paid there on, shall be issued...
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MEMBERS, THEIR RIGHTS, RESPONSIBILITIES AND LIABILITIES MEMBERSHIP Classes of Members 16. The Membership of the Society shall consist of (i) Members, including Associate Members and (ii) Nominal Members. (B) Eligibility for Membership No individual shall be admitted as a Member of a Society except the following that is to say – Individual who is competent...
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Resignation of Membership (1) Resignation by a Member   (a) A Member may resign from Membership after giving three months notice in the prescribed form to the Secretary of the Society as provided under Rule 21(1) of the Rules. (b) No resignation of a Member of the Society shall be accepted unless such Member has...
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Nomination by Members A Member and / or Associate Member of the Society may by writing under his hand, in the prescribed form, nominate a person or persons to whom the whole or part of the shares and / or interest of the Member in the capital / property of the Society shall be transferred...
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RESPONSIBILITIES AND LIABILITIES OF MEMBERS Maintenance of Flats by Members Flats to be maintained Every Member shall keep his flat / unit in good maintenance. No Member shall, without the previous permission of the Committee in writing, make any additions to or alterations in his flat. The Member, desirous of making any additions to or...
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