State Act

THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.

1[98D. Ensuring membership to Depositors.- (1) Every person or group holding a minimum deposit of rupees five thousand for a continuous period of one year in a primary agricultural credit co-operative society shall become a member of the society by subscribing the minimum share capital specified in the bye-laws and shall have full membership with voting rights: Provided that a person having deposit of less than rupees five thousand for a period of less than one year shall remain a nominal member. (2) A borrower group shall become a member of a primary agricultural credit cooperative society under sub-section (1) of section 16 by subscribing the prescribed share capital specified in the bye-laws and shall have full voting rights. (3) Every depositor group or borrower group admitted as a member under sub-section (1) of section 16 shall be entitled to vote through one delegate nominated by the group.]1