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MEMBERSHIP


Membership

The Society shall have the following categories of members

 

1. Ordinary Members

 

A Person desirous to be an Ordinary Member shall subscribe minimum number of shares in the following manner:

a.    Every individual under bye law shall at least subscribe 200 shares of the face value of Rs.10/- each

b.    At least five (5) percent of the value of the minimum number of shares required to be subscribed (i.e Rs.100/-) by the applicant as per these Bye-laws, shall be paid along with the application.

 

 2.  Nominal Members

 

 The 'SOCIETY' at its discretion may admit a person on payment of a non-refundable fee of Rs 100/- as a Nominal member provided that no such nominal member shall be entitled to subscribe to the shares of the 'SOCIETY' or have any interest in the management thereof including right to vote, be elected as a director of the board or participate in the general body meetings.

 

 Membership Condition

 

 a.       Applied in writing in the prescribed format

b.      Applicant must have completed 18 years of age and capable to entering into a valid contract,
c.       Applicant business or Profession should not be in conflict with the business / activiites of the Society,
d.      Applicant has not been adjudged by a competent court to be and insolvent or a discharged insolvent.
e.       Applicant should not have been convicted for any criminal offenses by court of law,
f.        Fulfilled all other conditions laid down  in the  Act, the Rules and the Bye-laws

 

The Board of Directors of Society shall be the authority to approve the application to admit as a Member. 

 

Member Welfare

Member welfare is initiated for the members who are subscribed under Ordinary Membership.  Ordinary Members can pay an option of Rs.200/- and Rs.400/- for one year and two year respectively.

 

Beneficiaries of Member Welfare

 

* Member of the Society

* Spouse of the Member

 

Privileges under Member Welfare Scheme are as follows:-

Particulars

Annual Rs 200/-

Annual Rs 400/-

Remarks

Term

One year

Two years

Privileges  in Normal Death :

Family support

1000

1000

On the death of Member and Spouse

 Death Fund

25000

50000

On the death of Member

 Death Fund

10000

15000

On the death of Spouse

Privilege in Accidental  Death

Family Support

1000

1000

On the death of Member and spouse

Death fund

100000

100000

On the death of Member

Death fund

100000

100000

On the death of Spouse

 

a)     MWF will not be refunded at any circumstances

b)     MWF will be utilizing for the specific welfare of the members as mentioned above as well as to meet emergency situation

c)      The decision of ESCCO Board will be final in case of any dispute

d)     No payment will be paid under this welfare if:

1.      Non-Renewal of Annual Subscription

2.      Any misrepresentation of details by member or Nominee

3.      From intentional self-injury, suicide or attempted suicide or the influence of intoxicating liquor or drug

 

4.      Arising out of or resulting from breach of law with criminal intention or due to involving any unlawful activities