Bldg society bank account handling by existing members

File Application before the Coop. ward Registrar office to appoint another signatory for your Bank operating purposes.

Keep Smiling .... Hemant Agarwal
VISIT:  www.chshelpforum.com

Thanks a lot for your prompt response.

However the bldg., is a small onne with only four members and the society is not regd.

Three expired in the last two years and only one signatory is live.

then how do we go

What is the nature of the account with the Bank? Since you say your society is not registered, it must have been a normal joint account with a few individuals of Flat Owners opening a joint account with an operation by a certain two or any two persons. Bank being a nationalized bank and it is being merged with some other bank are facts about which you need not much bother. Banks have to function as per NI Act and rules and regulations issued by RBI from time to time no matter it is nationalized or otherwise.

If it is merely a joint account and the remaining joint account holders are no more, you may approach the bank with the death certificates of the deceased flat owners requesting the bank to add the names of the persons who inherited the apartment from the deceased member so that the joint account can be revived with new signatories along with the existing single signatory.  In a joint account when new members are to be added, at least one member who originally opened the account should be there.

How is the it a society when it is registered?

Thanks a lot . I will try what u said.

The society may pass a resolution authorising any two members of the Managing Committee and give it to the Bank with all requirements of operating / opening account.

No need to approach Registrar Cooperative Societies, it is internal decision of Managing Committee.

Thanks a lot sir. i vl follow

Originally posted by : majeti
	Thanks a lot for your prompt response. However the bldg., is a small onne with only four members and the society is not regd. Three expired in the last two years and only one signatory is live. then how do we go

1. It is illegal to operate an bank account in name of an entity (society) which is not registered.

Keep Smiling .... Hemant Agarwal
VISIT:  www.chshelpforum.com

ialready mentioned that it is not a regd., socity. There aree about 250 buildings in this area which are small and aree not regd.,

The bank account is just a joint account