Co-operation · Ch 1 — Organisation of a Co-operative Society
General Meetings — Annual General Meeting and Special General Meeting
General Meetings — Annual General Meeting and Special General Meeting
The general body functions through two kinds of general meetings: the annual general meeting and the special (or extraordinary) general meeting. Both are governed by the Maharashtra Co-operative Societies Act, 1960 and the society's bye-laws, which lay down how they are called, the notice to be given, the quorum required, and the business to be transacted.
The annual general meeting, dealt with in Section 75 of the Act, is the regular yearly meeting of the whole membership. Every society must hold one annual general meeting each year, within the period fixed by the Act after the close of the co-operative year (the co-operative year of a society ends on the 31st of March). This is the meeting at which the members review the working of the society over the past year and take the reserved decisions that belong to them. The ordinary business of the annual general meeting typically includes considering and adopting the audited annual accounts and the balance sheet, considering the report of the managing committee on the year's working, considering the auditor's report and the rectification of defects pointed out in audit, deciding the disposal of the net profits (including the declaration of dividend and bonus within the limits of the Act and bye-laws), appointing or providing for the auditor, and — in the appropriate year — conducting the election of the members of the managing committee. If the managing committee fails to call the annual general meeting within the prescribed time, the Act empowers the Registrar to take steps to have the meeting called, so that the members are not deprived of their annual control over the society. …
The compulsory yearly meeting of the general body of a co-operative society, held within the period fixed by the Act after the close of the co-operative year (which ends on 31st March), at which the members consider and adopt the annual accounts, the committee's report and the audit report, decide the disposal of net profits, …
Any general meeting other than the annual general meeting, called to transact specific urgent business. It may be convened by the managing committee, and must be convened on the direction of the Registrar or on a valid requisition by the required number of members; only the busine …
The minimum number of members who must be present for a general meeting to validly transact its business, as fixed by the bye-laws in accordance with the Act and Rules. If the quorum is not present, the meeting cann …