State Act

The Punjab Self-Supporting Co-operative Societies Act, 2006

43. A member shall be eligible for being chosen as a Director if,— (a) he has right to vote in the affairs of the self-supporting co-operative society ; (b) he has utilized the services of the self-supporting co-operative society during the previous financial year to the extent and in the manner specified in the bye-laws ; (c) he has no pecuniary interest in any contract made with the self-supporting co- operative society ; (d) he is not a defaulter of any other self-supporting co-operative society ; and (e) a period of three years has elapsed from the date, such member ceased to be the Director for the following reasons, namely :— (i) non-calling of annual general meeting or special general meeting under sections 36 and 37 respectively ; (ii) non-submission of annual report of activities and audited annual financial statement of accounts to the members under sub-section (4) of section 36 ; (iii) non-conduct of elections of the Directors; and (iv) absence from three consecutive meetings of the Board ; (f) a period of five years has elapsed from the date such a member ceased to be the Director on account of his removal ; and (g) the period of five years has elapsed from the date of conviction for an offence under this Act or for an offence of moral turpitude.