Question: Family members can act on behalf of society’s members. In registered co-operative society in Gujarat, there is President, Secretary, Tresury and other Members, totaling to 8 to 11 strengths. Normally a share certificate holder who are owning their property are members of such society. But if he is not able to devote time can his close family members such as Mother/Father/Brother /Sister be member of Society. Pls advise.
In a registered cooperative society in Gujarat, the eligibility for membership is typically determined by the society’s bylaws and the relevant provisions of the Cooperative Societies Act of Gujarat. The specific rules regarding who can become a member may vary from society to society, so it is important to review the society’s bylaws for accurate information in your specific case.
Generally, cooperative societies prioritize granting membership to individuals who are shareholders or owners of property within the society. However, the bylaws may provide provisions for the transfer or nomination of membership in certain situations.
In the case where a share certificate holder or property owner is unable to actively participate in the society due to personal reasons, such as not being able to devote time, it is possible that the society’s bylaws may allow for a close family member, such as a mother, father, brother, or sister, to be nominated as a representative or authorized member on behalf of the share certificate holder.
To obtain precise information on whether family members can become members in such circumstances, you should consult the society’s bylaws or governing documents. If the bylaws do not explicitly address this issue, you may need to seek clarification from the cooperative society itself or consult with a legal professional specializing in cooperative law in Gujarat. They can provide guidance based on the specific regulations and practices governing cooperative societies in your jurisdiction.
Share Certificate
In India, a share certificate is a document issued by a cooperative housing society to its members who own flats or units within the society. The share certificate signifies the ownership of shares in the society, which correspond to the member’s ownership of a specific flat or unit.
The share certificate typically contains information such as the member’s name, the flat/unit number, the number of shares allocated to the member, and any other relevant details pertaining to the membership and ownership rights.
Shareholders or share certificate holders in a cooperative housing society have certain rights and privileges, including:
- Voting rights: Shareholders are generally entitled to vote in the society’s general body meetings and elections.
- Participation in decision-making: Shareholders can actively participate in discussions and decision-making processes related to the management and functioning of the cooperative society.
- Dividend entitlement: Depending on the society’s bylaws, shareholders may be eligible to receive dividends or a share in the profits earned by the society.
- Transfer or sale of shares: Shareholders have the right to transfer or sell their shares to other eligible individuals, subject to the rules and regulations of the cooperative society.
It is important to note that the specific rules and regulations regarding share certificates and the rights of share certificate holders may vary depending on the state or union territory in India and the specific bylaws of the cooperative society.
Therefore, it is advisable to refer to the relevant cooperative laws and regulations applicable in your jurisdiction and consult with legal professionals specializing in cooperative law to understand the precise meaning and implications of share certificates in your particular context.
