https://www.taxtmi.com/acts?id=16610 Supersession or suspension of a co operative society board is limited to a specified period and permitted only on grounds such as persistent default, negligence, prejudicial acts, stalemate, or failure to conduct elections; boards with no government shareholding, loan, assistance or guarantee cannot be superseded. Banking co operatives are subject to the Banking Regulation Act, with a longer period treated as one year for certain non multi State banking societies. An administrator appointed on supersession must conduct elections within the period and transfer management to the elected board, and the State Legislature may prescribe the administrator's service conditions. en-us Mon, 04 Jun 2012 17:35:17 +0530 Thu, 31 Jul 2025 10:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16610 Supersession or suspension of a co operative society board is limited to a specified period and permitted only on grounds such as persistent default, negligence, prejudicial acts, stalemate, or failure to conduct elections; boards with no government shareholding, loan, assistance or guarantee cannot be superseded. Banking co operatives are subject to the Banking Regulation Act, with a longer period treated as one year for certain non multi State banking societies. An administrator appointed on supersession must conduct elections within the period and transfer management to the elected board, and the State Legislature may prescribe the administrator's service conditions. Act-Rules Indian Laws Mon, 04 Jun 2012 17:35:17 +0530 https://www.taxtmi.com/acts?id=16610