Society Funds
Relevant Act sections and Model Bye-laws relating to society funds.
Relevant provisions
Reservation of name and permission for opening bank account
For the purpose of granting permission to open an account in the bank and reservation of name of the proposed tenant co-partnership housing society or premises society, an application shall be made to the Registrar in the prescribed format and shall be accompanied with the copies of commencement certificate, or the building completion certificate given by the Architect and the copy of resolution of promoters electing chief promoter and authorizing him to make such application and on receipt of such application, the Registrar shall dispose of it within a period of thirty days from the date of its receipt. (2) For the purpose of granting permission to open an account in the bank and reservation of name of the proposed tenant ownership housing society an application shall be made to the Registrar in the prescribed format and shall be accompanied with the copy of tentative lay-out plan certified by Architect or sanctioned lay-out plan and copy of resolution of promoters electing chief promoter and authorizing him to make such application and on receipt of such application, the Registrar shall decide it within a period of thirty days from the date of its receipt. (3) For the purpose of registration of a housing society, an application shall be made to the Registrar in the prescribed format and shall be accompanied with documents as prescribed alongwith such fees as may be prescribed : Provided that, the application shall be signed by the minimum number of plot or flat purchasers or owners or intending Members as provided under foregoing section : Provided further that, for the registration of a Association of society or co-operative housing association, such application shall be signed by minimum number of authorized office bearers of different societies or legal bodies, as the case may be, as provided under foregoing section.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Charge of society in respect of share and interest of Member
a charge upon share and interest of a Member or past Member or deceased Member to the extent of dues payable by such Member to the society.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Creation of funds
also such other funds as it may, from time to time, decide.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Investment of funds
following :— (a) in a District Central Co-operative Bank, the State Co-operative Bank, having awarded at least “A” Audit Class in last three consecutive years, if no such Central Co-operative Bank is available in district, then any Nationalised Bank ; (b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (2 of 1882); (c) in the shares, or security bonds, or debentures, issued by any other society with limited liability ; (d) in any other mode permitted by the rules, or by general or special order issued in that behalf by the State Government.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Utilization of funds
purpose as may be specified in bye-laws of the society: Provided that, the corpus fund may be utilized for the purpose as may be decided in the general meeting of the society.
The Maharashtra Co-operative Societies Act, 1960 · Text as on 6 June 2025Disclaimer: The statutory sections and Model Bye-laws displayed here are provided solely for general information and reference. They are not a certified legal publication or a certified copy of any society's registered/adopted bye-laws. Law, rules, notifications and society-specific bye-laws may be amended. In case of any discrepancy, the current official Act, Rules, Government Resolutions, Notifications, Circulars, competent-authority orders and the concerned society's registered/adopted bye-laws shall prevail. Users should verify the current applicable provisions and obtain professional legal advice where required.