State Act

THE KARNATAKA SOUHARDA SAHAKARI ACT, 1997

1[26. Election to the board.-(1) The election to a board shall be conducted immediately before the expiry of the term of the outgoing board so as to ensure that the newly elected members of the board assume office immediately on the expiry of the term of office of the members of the outgoing board. 4[(1A) Every candidate contesting for the Election of the Board shall, at the time of filing his nomination, file a declaration of his/her and his/her family’s assets and liabilities in the manner as may be prescribed. (1B) Every elected director of the Board shall submit a declaration of assets and liabilities of his/her and his/her family for each financial year of his tenure in the manner as may be prescribed. Explanation- For the purpose of this sub-section “Family” means Candidate and his/her Spouse, Unmarried Daughter and Undivided Son.]4 5[(2) Subject to provisions of this Act, the procedure and guidelines for conducting elections to Souharda Co-operative Societies by the Co-operative Election Authority as may be prescribed.]5 (3) The newly elected directors of the board shall assume office immediately on the expiry of the term of the outgoing board. 2[4. XXX]2]1