vijayanand (ABCDE) (27 Points)
14 May 2013Whether a Multi state cooperative society can issue different types of Equity Shares.? ( i.e) With or without Voting rights.
Radhakrishnan K.V.
(Joint Registrar of Co-operative Societies (Rtd.))
(1072 Points)
Replied 21 May 2013
Yes, Of course. Vide section 26 of multi state co-operative societis act 2002.
Sec.26 Nominal or associate member of society.-A multi-State co-operative society may, if provided in its bye-laws, admit a person as nominal or associate member:
Provided that no such nominal or associate member shall be entitled to subscribe the shares of such society or have any interest in the management thereof including right to vote, elect as a director of the board or participate in the general body meetings.
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