Friday 12 August 2011

M-20 BOND


 TO BE GIVEN ON RUPEES 100/- STAMP PAPER OR TO BE AFFIXED WITH ADHESIVE STAMP OF THE SAME DENOMINATION


M-20 BOND

I Shri / Smt._______________________________________________________
Age________ resident of ______________________________________________
have been elected on the Managing Committee of ________________Co. Op. Housing Society Ltd.for the period of 5 years i.e. From __________ To __________ . I have assumed office from __________

I declare today i.e. __________ that I shall be jointly And severally responsible for all the decisions taken by the Committee during its term relating to the business of the society and shall be jointly and severally responsible for all the acts and omissions detrimental to the interest of the society, as provided in section 73[IAB] of the Act .



Seal of the Society                                  Signature of the Managing Committee Member
                                                                             
                                                                             Sign -
                                                                            
                                                                             Name -

                                                                            Witness
Date -                                                                  Signature of the Election / Returning Officer

Place -                                                                 Sign -

                                                                            Name -                                                                                




                                                                               

                                                                                   


2 comments:

  1. Society Flat Owner Members
    Demand from your Managing Committee Member

    The M-20 bond has been signed and submitted to the Deputy Registrar of Cooperative Society.

    That every Society Committee Member complies with:
    Member of a Co-operative Housing Society in Maharashtra, who has more than two children, is not eligible to be a member of the Managing Committee.
    This disqualification is applicable only to a member to whom the third child is born after September 7, 2011

    Also if,
    1) A member is convicted by a Court of Law for any offence involving moral turpitude, that member is not eligible to be elected as a member of the committee unless a period of six years has lapsed since such conviction.
    2) A member who defaults in payment of dues to the society within three months from the date of service of notice in writing is not eligible to be elected as a member of the committee.

    As per the Maharashtra Co-operative Society Act 1960 vide Section 73(1AB) every members of Managing Committee of Cooperative Housing Society have to execute the M-20 bond and submit it to the Deputy Registrar of Cooperative Society to make them accountable of their personal responsibility and liability towards the society and its members. (Bombay High Court–Writ Petition No:457 of 2007) under article 226 of the Constitution of India.

    Bye Law No:136 of the Old Model bye Law and Bye Law no:138 which lays down that the members of the Managing Committee shall be jointly and severally liable for making good any loss which the society may suffer on account of their negligence or omission to perform any of the duties and function cast on them under the Act, Rules and bye laws of the Society.

    ReplyDelete
  2. Muttu Now all society has to work as per new model Bye-Laws approved by Commissioner for Co-operation and Registrar ,C S on 21/05/2009

    your Member complies and point no 1 and 2 is right but it is duty of election officer to verify at the time of approving the form.

    Do not post same comment and query to post which is not related to the comments and query you ask . I remove them from all other post

    ReplyDelete

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