Membership
➤ The liability of the members of the society shall be limited to the share capital subscribed by them.
➤ The share capital of society shall for the present be Rs.10/-each Made up of 20 shares of Rs.200/= collected at the time of admission. Additional 5% of share amount to be collected on Loan amount.
(A) Application for admission as members and allotment of shares shall be made to the secretary in the form if any, prescribed by the society for the purpose.
(B) Any person qualified for membership may, on application made in the form, if any, prescribed for the purpose, be admitted as a member of the society by the committee.Provided that the Committee may for good and sufficient reason to be required in the minutes of the meeting in which the application for admission is considered, refuse admission to any person and the decision of the committee refusing admission shall be communicated to the applicant.
(C) Any person who is refused admission to registered society under closure (b) of sub-section (E) of Section 17 of the Act may appeal to the Registrar.
(D) Any appeal in this regard shall be preferred within two months from the date of decision complained of, but the appellate authority may admit an appeal preferred after the said period of two months if it is satisfied that the appellant had sufficient cause for not preferring the appeal within the said period.
DAE/NPCIL/BHAVINI/BARF (F)/KARP/GSO/DPS/THRIFT SOCIETY/Atomic Energy Central School/Atomic Energy Employees Co-operative Consumer Stores can become a member after completion of one year of regular service excluding training period. Dual Membership not allowed. i.e employees who are already member of other Co-operative Thrift & Credit Society Limited is not eligible to become Member (i.e BARC Thrift & Credit Society, Mumbai). After producing Clearance certificate from the society concerned they can join in our society. Membership shall be closed by a member after 3 years of membership on personal ground except in the case of transfer/death or / otherwise.
Management
The affair of the society shall be managed by the Board of Directors consist of eleven members elected by the members as per the directions given by the Government of Tamil Nadu, Elections were conducted by the Co-operative Election Commission. The Eleven elected Board of Directors shall elect a President and Vice President among themselves.
Total members - 11
The term of office for the elected Board of Directors shall be Five years.
Source of Funds
The following working capital available for Stores business.
Details:-
Share Capital, Government Share, Fixed Deposit from Members, Trade Deposit, Staff Security Deposit, Reserve Fund.
