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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.