{"id":7357,"date":"2024-11-13T07:41:42","date_gmt":"2024-11-13T07:41:42","guid":{"rendered":"https:\/\/zipgrid.com\/societysunday\/?page_id=7357"},"modified":"2024-12-16T10:53:04","modified_gmt":"2024-12-16T10:53:04","slug":"vi-funds-their-utilisation-and-investment-bye-law-no-12","status":"publish","type":"page","link":"https:\/\/zipgrid.com\/societysunday\/vi-funds-their-utilisation-and-investment-bye-law-no-12\/","title":{"rendered":"VIII. RESPONSIBILITIES AND LIABILITIES OF MEMBERS- F bye law no 63 64"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\tMODEL BYE\u2013LAWS OF COOPERATIVE HOUSING SOCIETY<\/b>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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VIII. RESPONSIBILITIES AND LIABILITIES OF MEMBERS\n<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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(F) Other Matters (Bye Law No 63 and 64)\n<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Bye Law No 63(a) Disposal of Application <\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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All the applications for (i) admission to Membership of the Society, including associate and nominal Membership, (ii) approval to the transfers of Shares and interest in the capital\/property of the Society, (iii) intimation for subletting or giving flats or parts thereof on leave and license or care-taker basis, (iv) permission for additions and alterations in flats, (v) allotment of parking spaces and stilts (vi)permission for exchange of flats (vii) permission for holding, additional flats, (viii)permission for assigning, mortgaging or creating charge or interest in fiats, (ix) permission for use of terrace, and (x) complaint application of the members (xi) for any other purpose provided under the byelaws but not specifically mentioned above, shall be addressed to the Secretary of the Society. Every application received by the Secretary shall be acknowledged by him.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 63(b) Scrutiny by the Secretary and intimating short-comings to Member\n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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On receipt of the applications, the Secretary of the Society shall scrutinize them and bring any short-coming therein to the notice of the Members concerned within 15 days of their receipt for compliance;<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 63(c) Secretary to place the Application before next Committee Meeting\n\n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Secretary shall place all the applications, complete in all respects, or incomplete, before the meeting of the Committee or the general body, as the case may be, held next after receipt of the applications;<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 63(d) Decisions on Applications\n\n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Committee or the General Body, as the case may be, shall consider all such applications at its meetings and take decisions thereon;<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 63(e) Disposal Applications within 3 months\/sub-letting Application within 1 month\n\n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Committee shall ensure that all the applications received by the Secretary of the Society are disposed off within the maximum period of 3 months from the dates of their receipt; except application for subletting.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 63(f) Reason of Rejection to be recorded\n\n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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If the Committee or the General Body, as the case may be, rejects any applications, it shall record, in the minutes of its meetings, the reasons for rejection of the applications;<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 63(g) Communication of decision within 15 days\n\n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Secretary of the Society shall communicate the decisions of the Committee or the General Body, as the case may be, to the applicants concerned within 15 days of the decisions of the Committee or the General Body, as the case may be, with reasons, where the applications are rejected by the Committee or the General Body, as the case may be, If the Society does not communicate the decision to the applicant within three months from the date of receipt of application for Membership; including nominal or associate Membership, the applicant shall be deemed to have been admitted as a Member as provided under Section 22(2) of the Act.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Bye Law No 64. Payment of the value of shares and interest of member or past member of the Society \n<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Wherever the question of payment of the value of the shares and the interest of any Member of the Society, in its capital\/property, as the result of acquisition of the same by the Society arises, the following procedure shall be followed :<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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  1. The value of Shares or interest in the share capital of the society shall be decided in accordance with the provisions of Section 29 read with Rule 23 of the MSCS Rules,<\/li>
  2. The interest of the expelled Member in the property\/capital of the Society, shall be valued by the Government approved valuer.<\/li>
  3. Within one month of the date of demand for payment of the value of the shares and interest in the capital\/property of the Society, or acquisition of the same by the Society, the Committee shall, by publication of the notice in at least two widely circulated news papers and exhibition thereof on the notice board of the Society, invite offers for price proposed to be paid for acquiring interest in the flat, within such period as is mentioned in the notice.<\/li>
  4. On receipt-of the offers, the Committee, in its meeting, shall scrutinize the same and decide to accept the offer which is the highest, which shall not be less than the approved value as determined in (ii) above.<\/li>
  5. The Committee shall then advise the person, offering the highest price, to make an application for Membership of the Society, in the prescribed form along with a demand draft for the price offered, value of 5 Shares of the Society and the entrance fee of Rs. 100\/-.<\/li>
  6. On realisation of the demand draft and within one month of the admission of the said person to Membership of the Society, the Committee shall arrange to pay the value of the interest in the flat realised by the Society,<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    1. To the Member whose resignation has been accepted by the Committee, or<\/li>
    2. To the nominee\/s legal heir\/s of the deceased Member who demanded payment of the value of the Shares and the interest in the capital or property of the Society or<\/li>
    3. To the expelled Member Together with the value of the shares as determined under (i) above and after deducting the following<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      1. outstanding amounts, if any, due from such Member.<\/li>
      2. the entire expenses of the publication of the notice.<\/li>
      3. Expenses incurred for the disposal of the interest of the Member in the property\/capital of the Society. The payment shall be made in the manner provided under the bye-laws Nos. 36, 37 and 53 to the nominee\/nominees or heir\/heirs, respectively.<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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        RESPONSIBILITIES AND LIABILITIES OF MEMBERS- F MODEL BYE\u2013LAWS OF COOPERATIVE HOUSING SOCIETY VIII. RESPONSIBILITIES AND LIABILITIES OF MEMBERS (F) Other Matters (Bye Law No 63 and 64) Bye Law No 63(a) Disposal of Application All the applications for (i) admission to Membership of the Society, including associate and nominal Membership, (ii) approval to the transfers […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"class_list":["post-7357","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/pages\/7357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/comments?post=7357"}],"version-history":[{"count":153,"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/pages\/7357\/revisions"}],"predecessor-version":[{"id":11867,"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/pages\/7357\/revisions\/11867"}],"wp:attachment":[{"href":"https:\/\/zipgrid.com\/societysunday\/wp-json\/wp\/v2\/media?parent=7357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}