Section 49: Election of directors
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
49. Election of directors
(1) At the annual general meeting of the society, the directors shall be
elected according to the rules.
(2) An outgoing director of Secretary shall remit to a newly elected Board
any book, document or any property of the society which was remitted to,
or kept by, him in his capacity as director or Secretary.
(3) A person who fails to comply with subsection (2) shall commit an
offence and be liable to a fine not exceeding 200,000 rupees.
C49 – 27 [Issue 9]
Co-Operatives Act