<h1>Rajasthan cooperative law update: new Act to boost transparency, governance, audit access and penalise misuse.</h1> The draft code enhances transparency and governance by making management member-oriented, lifting government shareholding caps to promote society formation, permitting marketing and partnerships beyond operational areas, and establishing a regulatory board for credit societies. It mandates timely general assemblies with digital notice, penalises failures (Rs 5,000) and disqualifies absentee board members, requires audit reports to be uploaded to a government portal within 15 days for public access, and enables recovery action after audits or inquiries; misuse of 'cooperative' is subject to a fine.