Co Op Cr Soc, Cheque issuance

What is your query

Rohit :

Only a "duly constituted" managing committee of a cooperative society, can issue and receive cheques or do any other financial transactions.

If the managing committee is not  "duly constituted", THEN it is  "illegal & unauthorised" to issue  / receive cheques and can be prosecuted under the various provisions of I.P.C.

Keep Smiling .... Hemant Agarwal

A society 'registered' or say as my friend hemant opined a 'duely constituted' or 'leglly constituted' can issue cheques.

Thanks for your reply.  In such case, Can CO OP Credit society  (and not coop bank) issue cheques?

Co.op Credit Society can delegate power (jurisdiction) to the following persons (designations) to issue / receive cheques on behalf of the credit society.  The Chairman, the President, Secretary, Treasurer,  Manager, Accountant or anybody else (may not be a member).  But such delegation of cheque issuing power has to be done by a valid resolution, passed by the office bearers at their official meeting.

Besides the above authorities, the Co.op Credit Society is collectively liable for the actions of its officers for any and all offences committed by the above authorities.

In maharashtra, the MCS Act will apply to such coop credit societies alongwith other central and state statutory laws that may be applicable respectively in respective matters (dishonour of cheque, misappropriation, fraud, etc.. )

SUGGESTION : Please brief your query appropriately and in details for all to study and reply, for your own benefit.  Half baked questions will lead to a land of nowhere.

Keep Smiling .... Hemant Agarwal

If i am a member of co-operative cr soc, can the credit society issue me a cheques in a book form (as other banks gives on opening of account?).  Hope this is more clear or you need some more info.  Can you please inform the type of info you are looking for?

 Coop Credit Society is not a bank and there is no question of issuing cheque book. It can you post dated cheques of its account. That is not cheque book.

Co op. society is registered under co.op.society act & have legal entity can issue cheque.

 It is a question of issuing CHEQUE BOOK.