Nominal membership limits: non voting associate members may be admitted but lack management rights including voting and board election. A multi State co operative society may admit persons as nominal or associate members if its bye laws so provide; such members have no management interest, including no right to vote, be elected as directors, or participate in general body meetings. Nominal or associate members may be issued non voting shares, which likewise confer no management or voting rights or board election or general meeting participation; issuance by a multi State co operative bank must follow applicable regulatory instructions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nominal membership limits: non voting associate members may be admitted but lack management rights including voting and board election.
A multi State co operative society may admit persons as nominal or associate members if its bye laws so provide; such members have no management interest, including no right to vote, be elected as directors, or participate in general body meetings. Nominal or associate members may be issued non voting shares, which likewise confer no management or voting rights or board election or general meeting participation; issuance by a multi State co operative bank must follow applicable regulatory instructions.
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