Index of members must be maintained and updated promptly; failure attracts a prescribed fine and officer liability. Every company having more than fifty members must keep an index of the names of members (which may be in the form of a card index) unless the register of members itself constitutes an index; the index must be altered within fourteen days of any alteration in the register, contain sufficient indication to enable entries relating to each member to be readily found, and be kept at the same place as the register of members, with the company and any defaulting officer liable to a fine for noncompliance.
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Index of members must be maintained and updated promptly; failure attracts a prescribed fine and officer liability.
Every company having more than fifty members must keep an index of the names of members (which may be in the form of a card index) unless the register of members itself constitutes an index; the index must be altered within fourteen days of any alteration in the register, contain sufficient indication to enable entries relating to each member to be readily found, and be kept at the same place as the register of members, with the company and any defaulting officer liable to a fine for noncompliance.
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