 |
 |
|
 |
|
Coop Movement |
|
|
| |
|
|
The earliest co-operatives were set-up among the we-
avers, in other words work-
ers in cottage industries, who were the first and the hardest hit by the develop-
ment of the mercantile ec-
onomy and the industrial revolution. |
| |
|
|
More... |
|
| |
|
|
Duties & Functions |
|
|
| |
|
|
Federal Cooperatives has many duties to dischar-
ge. Broadly we can classify as follows: |
|
| |
|
|
 |
Promotional activities |
| |
|
|
|
Regulatory duties |
|
| |
 |
| |
|
|
More... |
|
|
|
|
 |
|
|
|
| Home > Souhard Act > Conversion of Existing Cooperative |
|
| Conversion of Existing Cooperative |
|
| |
| Conversion of Cooperative Societies under KCS Act, 1959 to KSS Act, 1997 |
|
| |
Any type of cooperatives other than housing cooperatives may convert themselves to KSS Act, subject to following conditions : |
|
| |
|
 |
|
There shall be no any governments' financial involvement in the cooperative in the form of share capital, subsidy, grant or loan. |
|
| |
|
|
|
No housing cooperative can convert themselves to KSS Act. |
|
| |
|
|
|
Cooperatives those who want to convert to KSS Act shall not have loan from DCCB's at the time of conversion. However they can avail this facility after conversion. |
|
| |
| Procedure of conversion |
|
| |
The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows |
|
| |
|
|
|
Permission from General Body : Any society or bank which intends to convert itself to KSS Act shall convene a General Body or a special General Body and shall take its approval for conversion. The matter shall come in agenda. The General shall also approve the proposed byelaws after converting it to KSS Act. |
|
| |
|
|
|
Proposal for conversion : The society or Bank shall submit the proposal of conversion to the registrar of area concerned along with: |
| |
|
|
|
|
|
|
Application in prescribed form |
| |
|
|
|
|
|
|
5 copies of byelaws |
| |
|
|
|
|
|
|
Recent audit report |
| |
|
|
|
|
|
|
Member list with their share details. |
| |
|
|
|
|
|
|
Details of board of directors with their financial commitments to the cooperative society. |
| |
|
|
|
|
|
|
No due certificate from DCCB. |
| |
|
|
|
|
|
|
Registration certificate and byelaws under old Act. |
|
| |
|
|
|
Election to new Board : within 2 months from the date of conversion cooperati-
ve shall hold election for its board. |
|
| |
Please note : In the case of Urban Cooperative Banks, Prior permission of Reserve Bank of India is necessary while converting any UCB to new Act.
|
|
 |
|
|
|
|
|
|
|
The Karnataka State Souharda Sahakari Act, 1997 (Asmendent Act, 2004) KANNADA. |
|
|
|
|
The Karnataka State Souharda Sahakari Act, 1997 (Amendent Act, 2004) ENGLISH. |
|
| |
|
|
More... |
|
|
|
|
|
| |
|