Maharashtra Co-operative Housing Society Bye-laws are set in accordance with the rules of Maharashtra Co-operative Societies Act 1960. These bye-laws provides a distinct guidelines to the co-operative society management to facilitate ease of functioning and peaceful cohabitation of the members. Also Maharashtra Cooperative Housing Society Bye-Laws aids societies to initiate any redevelopment process as per the norms of the authority.
Therefore, let us have a look at the key features that the MCS Act 1960 states:
Area of operation: The act states that the area of operation for any co-operative housing society is confined to all the cities and towns of Maharashtra. For the societies located at Brihan Mumbai, insertion of City Survey Number and Ward in mandatory.
Affiliation: Upon registering, the society becomes a member of Housing Federation of the district. As such the society becomes eligible to receive funds from the district central co-operative bank as per the bye-laws of the respective organisations.
Fundraising: As per the act, the society can raise fund for themselves as and when required either by charging an entrance fee or issuing shares or offering loans and subsidies. They can charge fee on transfer of shares along with occupancy rights as well. Also the society is eligible to receive voluntary donations.
Members Rights and Responsibilities: As per the bye laws, the membership of the society must include the associate members and nominal members. Anyone who is competent to contract under the Indian Contract Act, 1872 or a corporate body constituted under any law for the time being in force, or a society registered under the societies registration act, 1860 are eligible for membership. The eligible candidate need to pay a membership fee as per the society bye-law before getting inducted as a member.
Incorporation of duties: The bye-law vest the body of registered society with certain duties. Accordingly, the society need to conduct the structural audit of the buildings of the society once in 5 years for the buildings between 15-30 years of age and once every 3 years for building above 30 years.
Society Management: In accordance to MCS Act, 1960, the registered society need to open a banking account of the society in the nearest State or District Central Co-op. Bank or its branch or in any scheduled co-op Bank.
Resolution of complaints: The Act states that any dispute regarding the business activities of the society can be forwarded to any society member of surety of the member for resolution.