LexThe Maharashtra Co-operative Societies Act, 1960
Maharashtra · state statute
Open in Lexace · Ask the AI about this act1961 : Mah. XXIV] 1
THE MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960
[Text as on 6th June 2025]
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CONTENTS
PREAMBLE.
SECTIONS.
CHAPTER I
PRELIMINARY
1. Short title, extent and commencement.
2. Definitions.
CHAPTER II
REGISTRATION
3. Registrar and his subordinates.
3A. Temporary vacancies.
4. Societies which may be registered.
5. Registration with limited or unlimited liability.
6. Conditions of registration.
7. Power to exempt societies or class of societies from conditions as to registration.
8. Application for registration.
9. Registration.
10. Evidence of registration.
11. Power of Registrar to decide certain questions.
12. Classification of societies.
13. Amendment of by-laws of society.
14. Power to direct amendment of by-laws.
15. Change of name.
16. Change of liability.
17. Amalgamation, transfer, division or conversion of societies.
18. Power to direct amalgamation, division and reorganisation in the public interest of
members, etc.
18A. Amalgamation of Co-operative banks.
18B. Amalgamation of primary agricultural credit societies.
18C. Reorganisation of societies on account of alteration of limits of local areas in which they
operate.
19. Reconstruction of societies.
20. Partnership of societies.
20A. Collaboration by societies.
21. Cancellation of registration.
2 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
21A. De-registration of societies.
CHAPTER III
MEMBERS AND THEIR RIGHTS AND LIABILITIES
22. Person who may become member.
23. Open membership.
24. Nominal and associate member.
24A. Co-operative education and training to members, etc.
25. Cessation of membership.
25A. Removal of names of members from membership register.
26. Rights and duties of members.
27. Voting powers of members.
28. Restrictions on holding of shares.
29. Restrictions on transfer or charge of share or interest.
30. Transfer of interest on death of member.
31. Share or interest not liable to attachment.
32. Rights of members to see books, etc.
32A. Certain societies to give pass books to members an d entries in su ch book evidence of
amount due.
33. Liability of past member and estate of deceased member.
34. Insolvency of members.
35. Expulsion of members.
CHAPTER IV
INCORPORATION, DUTIES AND PRIVILEGES OF SOCIETIES
36. Societies to be bodies corporate.
37. Address of societies.
38. Register of members.
39. Copy of Act, etc., to be open to inspection.
40. Admissibility of copy of entry as evidence.
41. Exemption from compulsory registration of instruments relating to shares and deben tures
of society.
42. Power to exempt from taxation; power to refund.
43. Restrictions on borrowings.
44. Regulation of loan making policy.
44A. Limit on interest in certain cases.
45. Restrictions on other transactions with non-members.
46. Charge and set-off in respect of share or interest of member.
47. Prior claim of society.
48. Charge on immovable property of members borrowing from certain societies.
48A. Deduction from sale price of certain agricultural produce to meet society’s dues.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 3
49. Deduction from salary to meet society’s claim in certain cases.
CHAPTER V
STATE AID TO SOCIETIES
50. Direct partnership of State Government in societies.
51. Indirect partnership of State Government in societies.
52. Principal State Partnership Fund.
53. Subsidiary State Partnership Fund.
54. Approval of State Government for purchase of shares.
55. Liability to be limited in respect of certain shares.
56. Restriction on amount of dividend.
57. Indemnity of Apex and Central societies.
58. Disposal of share capital and dividend, etc.
59. Disposal of Principal or Subsidiary State Partnership Fund on winding up of Apex or Central
society.
60. Principal or Subsidiary State Partnership Fund not to form part of assets.
61. Agreement by State Government and Apex societies.
62. Other forms of State aid to societies.
63. Provisions of this Chapter to override other laws.
CHAPTER VI
PROPERTY AND FUNDS OF SOCIETIES
64. Funds not to be divided.
65. Ascertainment and appropriation of profits.
66. Reserve Fund.
67. Restrictions on dividend.
68. Contribution to education fund of the State federal society.
69. Contribution to public purposes.
69A. Constitution of Co-operative District Cadre of Secretaries and establishment of Employment
Fund for such Cadre.
69B. Constitution of District Level and State Level Committees.
70. Investment of funds.
71. Employees’ provident funds.
71A. Funds not to be utilised for certain proceedings filed or taken by or against officers in personal
capacities.
CHAPTER VII
MANAGEMENT OF SOCIETIES
72. Final authority of society.
72A. Freedom of affiliation or disaffiliation with a federal structure of choice.
73. Committee, its powers and functions.
73-IA. [Deleted].
4 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
73-IB. [Deleted].
73-IC. [Deleted].
73-ID. Motion of no-confidence against officers of societies.
73A. Disqualification for being designated officer simultaneously of certain categories of societies.
73AAA. Constitution of Committee.
73-AA. [Deleted].
73-AB. [Deleted].
73-B. Reservation of certain seats on committees of societies and election thereto.
73-BB. [Deleted].
73-BBB. [Deleted].
73C. Reservation for women.
73-CA. Disqualification of committee and its members.
73CB. State Co-operative Election Authority.
73CC. Power of State Government to postpone election.
73D. Society’s nominee on other society not eligible to be designated officer, except in a federal
society.
73E. [Deleted].
73EA. [Deleted].
73F. Election to more than one seat on the committee of society.
73FF. [This section was re-numbered as section 73CA by Mah. 16 of 2013, s. 36.]
73-FFF. [Deleted].
73-G. [Deleted].
73H. [Deleted].
73I. Responsibility of committee or the Administrators or authorised officer to intimate and assist
to arrange for election, before expiry of term.
74. Qualification and appointment of Manager, Secretary and other officers of societies and of
Chief Executive Officer and Financial Officer for certain societies.
75. Annual general body meeting.
76. Special general body meeting.
77. Acts of societies, etc., not to be invalidated by certain defects.
77A. Appointment of member of committee, new committee, or authorised officers, where there is
failure to elect member, to constitu te committee or where committee d oes not enter upon
office, etc.
78. Power of suspension of committee.
78A. Power of supersession of committee or removal of member thereof.
79. Society’s obligation to file returns and statements and Registrar’s power to enforce
performance of such obligations.
79A. Government’s power to give directions in the public interest, etc.
79AA. Registrar’s powers to give directions to frame regulations.
79-B. [Deleted].
80. Registrar’s power to seize records, etc.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 5
CHAPTER VIII
AUDIT, INQUIRY, INSPECTION AND SUPERVISION
81. Audit.
82. Rectification of defects in accounts.
83. Inquiry by Registrar.
84. Inspection of books of indebted society.
85. Costs of inquiry and inspection.
86. Recovery of costs.
87. Registrar to bring defects disclosed in inquiry or inspection to notice of society.
88. Power of Registrar to assess damages against delinquent promoters, etc.
88A. Deposit towards fees of inquiry.
89. Power to enforce attendance, etc.
89A. Power to inspect working of society.
90. Constitution or recognition of federal authority to supervise working of societies.
CHAPTER IX
SETTLEMENT OF DISPUTES
91. Disputes.
91A. Constitution of Co-operative Courts.
92. Limitation.
93. Transfer of disputes from one Co-operative Court to another, and suspension of proceedings
in certain cases.
94. Procedure for settlement of disputes and power of Co-operative Court.
95. Attachment before award or order and interlocutory orders.
96. Decision of Co-operative Court.
97. Appeal against decision under section 96 and order under section 95.
98. Money how recovered.
99. Private transfer of property made after issue of certificate void against society.
100. Transfer of property which cannot be sold.
101. Recovery of certain sums and arrears due to certain societies as arrears of land revenue.
CHAPTER X
LIQUIDATION
102. Winding up.
103. Appointment of Liquidator.
104. Appeal against order of winding up.
105. Powers of Liquidator.
106. Effect of order of winding up.
107. Bar of suit in winding up and dissolution matters.
108. Audit of Liquidator’s accounts.
6 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
109. Termination of liquidation proceedings.
110. Disposal of surplus assets.
CHAPTER X-A
INSURED CO-OPERATIVE BANKS
110A. Order for winding up, reconstruction, suspension or supersession of committee, etc., of
insured co-operative bank, not to be made without sanction or requisition of Reserve Bank of
India.
CHAPTER XI
CO-OPERATIVE AGRICULTURE AND RURAL MULTIPURPOSE DEVELOPMENT BANKS
111. Application of Chapter XI to Co-operative Agriculture and Rural Multipurpose Development
Banks.
112. State and other Co-operative Agriculture and Rural Multipurpose Development Banks.
112A. District Co -operative Agriculture and Rural Multipurpose Development Bank, its
constitution, term of office of delegates, casual vacancies, powers of such committee, etc.
112AA. Election of delegate as member of a Co-operative Agriculture and Rural Multipurpose
Development Bank from City of Bombay District and Bombay Suburban District.
112B. General Body and Committee of State Co -operative Agriculture and Rural Multipurpose
Development Bank.
112C. [Deleted].
113. Appointment, powers and function of Trustee.
114. Issue of debentures.
115. Guarantee by State Government.
116. Vesting of property in Trustee and Debenture holders’ charge on assets.
117. Powers of Co-operative Agriculture and Rural Multipurpose Development Bank to advance
loans and to hold lands.
118. [Deleted].
119. Order granting loan conclusive of certain matters.
120. Priority of mortgage.
121. Mortgages and other instruments executed in favour of a Co-operative Agriculture and Rural
Multipurpose Development Bank to stand vested in State Agriculture and Rural Multipurpose
Development Bank.
122. Registration of mortgage, lease, etc., executed in favour of Co -operative Agriculture and
Rural Multipurpose Development Bank.
123. Mortgages and other instruments not to be questioned on i nsolvency of mortgagors or
executants.
124. [Deleted].
125. Mortgages and other instruments executed by managers of Joint Hindu Families.
126. Section 8 of Act XXXII of 1956 to apply to mortgages and other instruments to Co-operative
Agriculture and Rural Multipurpose Development Bank, subject to certain modification.
127. Restrictions on lease.
128. Co-operative Agriculture and Rural Multipurpose Development Bank to receive money and
give discharge.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 7
129. Powers of Co -operative Agriculture and Rural Multipurpose Development Bank where
mortgaged or encumbered property is destroyed or security becomes insufficient.
130. Right of Co -operative Agriculture and Rural Multipurpose Development Bank to buy
mortgaged property.
131. Recovery of loans by Co-operative Agriculture and Rural Multipurpose Development Bank.
132. Power to distrain.
133. Sale of mortgaged or encumbered property.
133A. Mortgaged or encumbered property of Tribal not to be sold to non -Tribal at public auction
under section 133.
134. Confirmation of sale.
135. Disposal of sale proceeds.
136. Certificate to purchase delivery of property and title of purchase.
137. Recovery of loans on certificate by Registrar.
138. Mode of recovery by Collector.
139. Officers or members of family not to bid at auction sales.
140. Section 40 of Bom. XXVIII of 1947 not to apply to alienation in favour of Co -operative
Agriculture and Rural Multipurpose Development Banks.
141. Provision for Guarantee Funds to meet certain losses.
142. Registrar’s power to permit any society or class of societies to function as Co -operative
Agriculture and Rural Multipurpose Development Bank.
143. Service of notice.
143A. Transfer of rights and liabilities of Government in respect of schemes sanctioned under Bom.
XXVIII of 1942.
144. Power to Committee of State Co-operative Agriculture and Rural Multipurpose Development
Bank to supervise on Co -operative Agriculture and Rural Multipurpose Development Bank
and make regulations.
144-1A. Reorganisation, amalgamation or division of Co-operative Agriculture and Rural
Multipurpose Development Bank, in public interest, etc.
144-1B. [Deleted].
CHAPTER XI-1A
NON-AGRICULTURAL CO-OPERATIVE CREDIT SOCIETIES
144-2A. Application of Chapter XI-1A to non-agricultural co-operative credit societies.
144-3A. Definitions.
144-4A. Forms of business in which non-agricultural co-operative credit societies may engage.
144-5A. Prohibition on accepting deposit from non-members.
144-6A. Prohibition on trading.
144-7A. Disposal of property not required for non-agricultural co-operative credit society.
144-8A. Limit on administrative and establishment expenses.
144-9A Society to maintain cash reserve.
144-10A. Society to maintain statutory liquidity ratio.
144-11A. Restrictions on loans and advances.
8 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
144-12A. Restrictions on power to remit debt.
144-13A. Maharashtra State Non-Agricultural Co-operative Credit Societies Regulatory Board.
144-14A. Composition of the Regulatory Board.
144-15A. Secretary to the Regulatory Board.
144-16A. Term of non-official members of the Regulatory Board.
144-17A. Resignation of non-official member.
144-18A Removal of non-official member.
144-19A. Casual vacancies how to be filled in.
144-20A. Conduct of business of the Regulatory Board.
144-21A. Allowances to non-official members of the Regulatory Board.
144-22A. Functions and powers of the Regulatory Board.
144-23A. Regulations and guidelines to be binding on non-agricultural co-operative credit societies.
144-24A. Moratorium and or directions to non-agricultural co-operative credit society.
144-25A. Constitution of Stabilization and Liquidity Support Fund.
144-26A. Contribution to the Fund by the Societies.
144-27A. Utilisation of the Fund.
144-28A. Maintenance operation and investment of the Fund.
144-29A. Recovery of arrears of contribution, liquidity support or financial assistance.
144-30A. Accounts and Audit of the Fund.
144-31A. Power of Registrar to impose penalty.
CHAPTER XI-A
[ELECTIONS OF COMMITTEES AND OFFICERS OF CERTAIN SOCIETIES]
144-A to 144–Y. [Deleted].
CHAPTER XII
OFFENCES AND PENALTIES
145. Prohibition of use of the word “Co-operative”.
146. Offences.
147. Punishments for offences under section 146.
148. Cognizance of offences.
148A. Contempt of Co-operative Courts and of Co-operative Appellate Court.
CHAPTER XIII
APPEALS, REVIEW AND REVISION
149. Maharashtra State Co-operative Appellate Court.
150. Review of orders of Co-operative Appellate Court.
151. Co-operative Appellate Court to have power of Civil Court.
152. Appeals.
152A. Appeal against rejection of nomination paper at election.
153. Extension of period of limitation by appellate authority in certain cases.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 9
154. Revisionary powers of State Government and Registrar.
CHAPTER XIII-A
MAHARASHTRA STATE CO-OPERATIVE COUNCIL
154A. Constitution of State Co-operative Council, its functions, etc.
CHAPTER XIII-B
CO-OPERATIVE HOUSING SOCIETIES
154B. Application and non-application of provisions of this Act to the housing societies.
154B-1. Definitions.
154B-2. Registration of co-operative societies.
154B-3. Application for reservation of name and permission for opening bank account.
154B-4. Associate, Joint or provisional Member.
154B-5. Limit on Membership.
154B-6. Co-operative education and training to Members, etc.
154B-7. Restriction on transfer of share or interest of a Member.
154B-8. Rights of Members to inspect the documents.
154B-9. Removal of a Member.
154B-10. Rights and duties of Member.
154B-11. Voting rights of Member.
154B-12. Transfer of share, right, title and interest.
154B-13. Transfer of interest on death of a Member.
154B-14. Charge of society in respect of share and interest of Member.
154B-15. Creation of funds.
154B-16. Levy of charges by the society.
154B-17. Investment of funds.
154B-18. Utilization of funds.
154B-19. Constitution of Committee.
154B-20. Reservation of certain seats on Committee of societies and election thereto.
154B-21. Reservation for women.
154B-22. General provisions for strength of the Committee for quorum.
154B-23. Disqualification of Committee and its Members.
154B-24. Motion of no confidence against officers of society.
154B-25. Management of housing society, housing complex, housing association or housing
federation.
154B-26. Allotment of plots, flats or houses through draw of lots.
154B-27. Obligation of society to take action and Registrar’s powers to enforce.
154B-28. Housing Federations, their powers and duties.
154B-29. Recovery of certain sums and arrears due to housing societies as arrears of land revenue.
154B-30. House building co-operative societies which have achieved their objectives.
10 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
154B-31. Saving as to existing rules, orders, by-laws, etc.
CHAPTER XIV
MISCELLANEOUS
155. Recovery of sums due to Government.
156. Registrar’s powers to recover certain sums by attachment and sale of property.
157. Power to exempt societies from provisions of Act.
158. Delegation of power of Registrar to certain authorities and officers.
159. Branches, etc., of societies outside the State.
160. Handing over records and property to new Chairman on election.
160A. Members of State Legislature and certain local authorities not to be remunerated while
holding certain offices in societies.
160B. Members of committees not entitled to travelling allowance, daily allowance , etc., at a rate
higher than the maximum prescribed.
161. Registrar and other officers to be public servants.
162. Indemnity for acts done in good faith.
163. Bar of jurisdiction of Courts.
164. Notice necessary in suits.
165. Rules.
166. Repeal, saving and construction.
167. Companies Act not to apply.
168. Power to remove difficulty.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 11
LIST OF AMENDMENT ACTS
1. Amended by Mah. 5 of 1962
2. Amended by Mah. 23 of 1963
3. Amended by Mah. 33 of 1963
4. Amended by Mah. 33 of 1964
5. Amended by Mah. 37 of 1965
6. Amended by Mah. 12 of 1966
7. Amended by Mah. 16 of 19691
8. Amended by Mah. 27 of 19692
9. Amended by Mah. 35 of 19693
10. Amended by Mah. 54 of 1969
11. Amended by Mah. 10 of 1971
12. Amended by Mah. 27 of 1971
13. Amended by Mah. 2 of 1972
14. Amended by Mah. 24 of 1972
15. Amended by Mah. 40 of 1972
16. Amended by Mah. 43 of 1972
17. Amended by Mah. 48 of 1972
18. Amended by Mah. 29 of 19734 (30-5-1973)
19. Amended by Mah. 44 of 19735 (17-10-1973)
20. Amended by Mah. 3 of 1974 (1-3-1975)
21. Amended by Mah. 6 of 1975 (1-5-1975)
22. Amended by Mah. 36 of 1975 (19-2-1976)
23. Amended by Mah. 64 of 1975 (22-12-1975)
24. Amended by Mah. 5 of 1976 (18-2-1976)
25. Amended by Mah. 4 of 19776 (25-11-1976)
26. Amended by Mah. 50 of 19777 (27-09-1977)
27. Amended by Mah. 58 of 1977
28. Amended by Mah. 30 of 1978
1 Maharashtra Ordinance No. I of 1969 was repealed by Mah. 16 of 1969, s. 3.
2 Section 27 of Mah. 27 of 1969 reads as under :—
“27. Transfer of certain pending proceedings. — If any proceedings are pending immediately before the
commencement of the Maharashtra Co-operative Societies (Second Amendment) Act, 1969 (Mah. XXVII of 1969), in any
Court or before any authority in respect of matters which by section 91 of the principal Act as amended by this Act are to
be referred to the Registrar, then all such proceedings shall be transferred by such Court or authority to the Registrar for
disposal.”.
3 Maharashtra Ordinance No. XI of 1969 was repealed by Mah. 35 of 1969, s. 4.
4 Maharashtra Ordinance No. VII of 1973 was repealed by Mah. 29 of 1973, s. 4.
5 Maharashtra Ordinance No. XV of 1973 was repealed by Mah. 44 of 1973, s. 4.
6 Maharashtra Ordinance No. IX of 1976 was repealed by Mah. 4 of 1977, s. 4.
7 Maharashtra Ordinance No. VIII of 1977 was repealed by Mah. 50 of 1977, s. 4.
Note.- The date mentioned in the bracket indicates the date of commencement of the Act.
12 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
29. Amended by Mah. 25 of 1979 (17-08-1979)
30. Amended by Mah. 22 of 19801 (14-10-1980)
31. Amended by Mah. 63 of 19812 (13-10-1981)
32. Amended by Mah. 7 of 19823 (17-3-1982)
33. Amended by Mah. 18 of 1982 (1-7-1982)
34. Amended by Mah. 45 of 1983 (26-12-1983)
35. Amended by Mah. 18 of 19844 (29-6-1984)
36. Amended by Mah. 9 of 1985 (29-6-1985)
37. Amended by Mah. 10 of 1986 (30-1-1986)
38. Amended by Mah. 20 of 1986 (12-5-1986)
39. Amended by Mah. 37 of 19865 (5-9-1986)
40. Amended by Mah. 38 of 19866 (24-10-1986)
41. Amended by Mah. 10 of 1988 (20-5-1988)
42. Amended by Mah. 5 of 19907
42. Amended by Mah. 31 of 1990
43. Amended by Mah. 22 of 1991
44. Amended by Mah. 30 of 1991 (31-12-1991)
45. Amended by Mah. 20 of 19928 (23-12-1992)
46. Amended by Mah. 13 of 1994 (21-1-1994)
47. Amended by Mah. 27 of 1996 (5-10-1996)
48. Amended by Mah. 7 of 1997 (2-1-1997)
49. Amended by Mah. 41 of 2000 (23-8-2000)
50. Amended by Mah. 4 of 20019 (13-1-2001)
1 Maharashtra Ordinance No. XI of 1980 was repealed by Mah. 22 of 1980, s. 3.
2 Maharashtra Ordinance No. XIV of 1981 was repealed by Mah. 63 of 1981, s. 4.
3 Section 17 of Mah. 18 of 1982, provides as follows :—
“17. Validation and continuation of certain proceedings. — (1) Notwithstanding anything contained in the
principal Act, or the rules made thereunder or in any judgement, decree or order of any Court, no decision given by the
Registrar or any Officer exercising the powers of the Registrar that any matter referred to him or brought to his notice is a
dispute within the meaning of section 91 of the principal Act, and no reference made by the Registrar or such officer of
any such dispute for disposal to any Co -operative Court under section 93, at any time before the commencement of this
Act, shall be invalid, or ever to have been invalid, merely on the ground that the procedure laid down in the Act and in the
rule was not followed, or that an opportunity of being heard was not given to the parties concerned before deciding that
the matter is a dispute or before referring the dispute to the Co-operative Court for disposal.
(2) All disputes referred to in sub-section (1), which may be pending before any Co-operative Court or other authority
on the date of commencement of this Act shall be deemed to have been validly referred to it and shall be continued and
disposed of by that authority in accordance with the provisions of the principal Act as amended by this Act.”.
4 Maharashtra Ordinance No. IV of 1984 was repealed by Mah. 18 of 1984, s. 6.
5 Maharashtra Ordinance No. III of 1986 was repealed by Mah. 37 of 1986, s. 3.
6 Maharashtra Ordinance No. VI of 1986 was repealed by Mah. 38 of 1986, s. 3.
7 Sub-section (2) of section 1 of Mah. 5 of 1990 reads as under :—
“(2) This section and sections 2, 3, 6, 7 and 13 to 18 and 20 shall come into force at once, sections 4, 5 and 8 to 12 shall
be deemed to have come into force on the 1 st day of December 1987, and section 19 shall be deemed to have come into
force on the 20th June 1988.”.
8 Maharashtra Ordinance No. XIII of 1992 was repealed by Mah. 20 of 1992, s. 4.
9 Maharashtra Ordinance No. XII of 2000 and Maharashtra Ordinance No. XXVI of 2000 were repealed by
Mah. 4 of 2001, s. 5.
Note.- The date mentioned in the bracket indicates the date of commencement of the Act.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 13
51. Amended by Mah. 34 of 2001 (7-9-2001)
52. Amended by Mah. 6 of 20021 (23-4-2001)
53. Amended by Mah. 41 of 2005 (25-8-2005)
54. Amended by Mah. 20 of 2006 (10-5-2006)
55. Amended by Mah. 30 of 20072 (18-8-2007)
56. Amended by Mah. 31 of 2007 (10-12-2007)
57. Amended by Mah. 11 of 20083 (29-10-2007)
58. Amended by Mah. 2 of 2011 (14-1-2011)
59. Amended by Mah. 16 of 20134 (14-2-2013)
60. Amended by Mah. 31 of 2013 (20-12-2013)
61. Amended by Mah. 40 of 2014 (23-12-2014)
62. Amended by Mah. 24 of 2015 (31-7-2015)
63. Amended by Mah. 34 of 20165 (21-1-2016)
64. Amended by Mah. 36 of 20166 (2-3-2016)
65. Amended by Mah. 14 of 2017 (16-1-2017)
66. Amended by Mah. 33 of 2017 (26-4-2017)
67. Amended by Mah. 57 of 2017 (22-2-2019)
68. Amended by Mah. 14 of 2018
69. Amended by Mah. 50 of 20187 (13-6-2018)
70. Amended by Mah. 64 of 20188 (8-6-2018)
71. Amended by Mah. 23 of 20199 (9-3-2019)
72. Amended by Mah. 14 of 2020
73. Amended by Mah. 27 of 202010 (10-7-2020)
74. Amended by Mah. 28 of 2020
75. Amended by Mah. 30 of 202011 (28-10-2020)
76. Amended by Mah. 31 of 202012 (2-11-2020)
77. Amended by Mah. 11 of 2021
78. Amended by Mah. 5 of 202213 (1-10-2021)
79. Amended by Mah. 6 of 202214 (2-11-2021)
1 Maharashtra Ordinance No. XXVI of 2001 was repealed by Mah. 6 of 2002, s. 3.
2 Maharashtra Ordinance No. VI of 2007 was repealed by Mah. 30 of 2007, s. 3.
3 Maharashtra Ordinance No. VIII of 2007 was repealed by Mah. 11 of 2008, s. 27.
4 Maharashtra Ordinance No. VI of 2013 was repealed by Mah. 16 of 2013, s. 84.
5 Maharashtra Ordinance No. VI of 2016 was repealed by Mah. 34 of 2016, s. 3.
6 Maharashtra Ordinance No. VII of 2016 was repealed by Mah. 36 of 2016, s. 5.
7 Maharashtra Ordinance No. XVI of 2018 was repealed by Mah. 50 of 2018, s. 5.
8 Maharashtra Ordinance No. XV of 2018 was repealed by Mah. 64 of 2018, s. 3.
9 Maharashtra Ordinance No. IX of 2019 was repealed by Mah. 23 of 2019, s. 11.
10 Maharashtra Ordinance No. XII of 2020 was repealed by Mah. 27 of 2020, s. 4.
11 Maharashtra Ordinance No. XVII of 2020 was repealed by Mah. 30 of 2020, s. 6.
12 Maharashtra Ordinance No. XVIII of 2020 was repealed by Mah. 31 of 2020, s. 5.
13 Maharashtra Ordinance No. VII of 2021 was repealed by Mah. 5 of 2022, s. 5.
14 Maharashtra Ordinance No. IX of 2021 was repealed by Mah. 6 of 2022, s. 4.
Note.- The date mentioned in the bracket indicates the date of commencement of the Act.
14 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
80. Amended by Mah. 28 of 2022
82. Amended by Mah. 26 of 2023
83. Amended by Mah. 42 of 20231 (10-07-2023)
84. Amended by Mah. 19 of 2024
1 Maharashtra Ordinance No. V of 2023 was repealed by Mah. 42 of 2023, s. 4.
Note.- The date mentioned in the bracket indicates the date of commencement of the Act.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 15
MAHARASHTRA ACT No. XXIV OF 19611
[THE MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960.]
[This Act received the assent of the President on the 4th May 1961; assent was first published
in the Maharashtra Government Gazette, Extraordinary No. 24, Part IV, on the 9th May 1961.]
An Act to consolidate and amend the law relating to co-operative societies
in the State of Maharashtra.
WHEREAS with a view to providing for the orderly development of the co -operative movement
in the State of Maharashtra in accordance with the relevant directive principles of State policy enunciated
in the Constitution of India, it is expedient to consolidate and amend the law relating to co -operative
societies in that State; It is hereby enacted in the Eleventh Year of the Republic of India as follows :—
CHAPTER I
PRELIMINARY
1. Short tit le, extent and commencement. — (1) This Act may be called the Maharashtra
Co-operative Societies Act, 1960.
(2) It extends to the whole of the State of Maharashtra.
(3) It shall come into force on such 2date as the State Government may, by notification i n the
Official Gazette, appoint.
2. Definitions.— In this Act, unless the context otherwise requires,—
(1) “agricultural marketing society” means a society—
(a) the object of which is the marketing of agricultural produce and the supply of
implements and other requisites for agricultural production, and
(b) not less than three -fourths of the members of which are agriculturists, or soc ieties
formed by agriculturists;
3[(2) “apex society” means a society,—
(a) the area of operation of which extends to the whole of the State of Maharashtra,
(b) the main object of which is to promote the principal objects of the societies affiliated
to it as members and to provide for the facilities and services to them, and
(c) which has been classified as an apex society by the Registrar;]
4[(2-A) “authorised person” means any person duly authorised by the Registrar to take action
under the provisions of this Act;]
5[* * * * * *]
(4) “bonus” means payment made in cash or kind out of the profits of a society to a member,
or to a person who is not a member, on the basis of his contribution (including any contribution in
the form of labour or service) to the business of the society, and in the case of a farming society,
on the basis both of such contribution and also the value or income or, as the case may be, the area
of the lands of the members brought together for joint cultivation as may be decided by the society
6[but does not include any sum paid or payable as bonus to any employee of the society under the
Payment of Bonus Act, 1965 (21 of 1965);]
1 For Statement of Objects and Reasons of the L. A. Bill No. LVI of 1960 , see Maharashtra Government Gazette , 1960,
Extraordinary No. 46, Part V, dated the 3rd November 1960, pages 270-273; for Report of the Select Committee, see ibid.,
Part V, pages 432-517.
2 26th day of January 1962, vide G.N.C. and R.D.D. No. SCL. 1061/135-G, dated 24th January 1962.
3 Clause (2) was substituted by Mah. 20 of 1986, s. 2(a).
4 Clause (2-A) was inserted by Mah. 16 of 2013, s. 2(a).
5 Clause (3) was deleted by Mah. 20 of 1986, s. 2(b).
6 This portion was added by Mah. 27 of 1969, s. 2(a).
16 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
(5) “by-laws” means by -laws registered under this Act and for the time being in force and
includes registered amendments of such by-laws;
1[(6) “Central Bank” means a co-operative bank, the objects of which include the creation of
funds to be loaned to other societies; but does not include the urban co-operative bank;]
2[(7) “Committee” means the committee of management or board of directors 3[or the
governing body or other directing body of a co -operative society, b y whatever name called, in
which the management of the affairs of a society is entrusted] under section 73;]
(8) “Company” means a company as defined in the 4Companies Act, 1956 (I of 1956) and
includes a Banking Company and also any board, corporation or other corporate body, constituted
or established by any Central, State or Provincial Act for the purpose of the development of any
industry;
(9) “consumers’ society” means a society the object of which is—
(a) the procurement, production or processing, and distribution of goods to, or the
performance of other services for, its members as also other customers, and
(b) the distribution among its members and customers, in the proportion prescribed by
rules or by the by -laws of the society, of the profits a ccruing from such procurement,
production or processing and distribution;
5[(10) “co-operative bank” means a society which is doing the business of banking as defined
in clause (b) of sub-section (1) of section 5 of the Banking Companies Act, 1949 (10 of 1949) and
includes any society which is functioning or is to function as 6[a Co-operative Agriculture and Rural
Multipurpose Development Bank] under Chapter XI;]
7[(10-ai) “Co -operative Appellate Court” means the Maharashtra State Co -operative
Appellate Court constituted under this Act;
(10-aii) “Co-operative Court” means a Court constituted under this Act to decide 8[disputes
referred to it under any of the provisions of this Act];
9[(10-aii-1) “co -operative credit structure entity” means the primary agr icultural credit
co-operative society, the District Central Co-operative Bank or the State Co-operative Bank;]
10[(10-aiii) “co-operative year” means a year ending on the 11[31st day of March] or on such
other day in regard to a particular society or class of societies 12[as may have been fixed by the
Registrar, from time to time,] for balancing its or their accounts;]
13[(10-A) “crop protection society” means a society the object of which is protection of the
crops, structures, machinery, agricultural implements and other equipment such as those used for
pumping water on the land ;]
14[* * * * * * * *]
1 Clause (6) was substituted for the original by Mah. 20 of 1986, s. 2(c).
2 Clause (7) was substituted by Mah. 20 of 1986, s. 2(d).
3 These words were substituted for the words “or other directing body, by whatever name called, to which the management
of the affairs of a society is entrusted” by Mah. 16 of 2013, s. 2(b).
4 Now see Companies Act, 2013 (18 of 2013).
5 Clause (10) was substituted by Mah. 33 of 1963, s. 2.
6 These words were substituted for the words “an Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 2.
7 Clauses (10-ai) and (10-aii) were inserted by Mah. 3 of 1974, s. 2(b).
8 These words were substituted for the words “disputes referred to it by the Registrar” by Mah. 18 of 1982, s. 2.
9 Clause (10-aii-1) was inserted by Mah. 11 of 2008, s. 2(a).
10 Clause (10-aiii) was inserted by Mah. 20 of 1986, s. 2(e).
11 These words were substituted for the words “30th day of June” by Mah. 13 of 1994, s. 2(a).
12 These words were substituted for the words “as may have been fixed, with the previous approval of the Registrar” by Mah.
13 of 1994, s. 2(b).
13 Clause (10-A) was inserted by Mah. 27 of 1969, s. 2(b).
14 Clause (10-B) was deleted by Mah. 16 of 2013, s. 2(c).
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 17
(11) “D ividend” means the amount paid, out of the profits of a society, to a member in
proportion to the shares held by him;
1[(11A) “expert director” means a person having experience in the field of banking,
management, co-operation and finance and includes a person having specialisation in any other
field relating to the objects and activities undertaken by the concerned society;]
(12) “farming societ y” means a society in which, with the object of increasing agricultural
production, employment and income and the better utilisation of resources, lands are brought
together and jointly cultivated by all the members, such lands (a) being owned by or leased to the
members (or some of them), or ( b) coming in possession of the society in any other manner
whatsoever;
(13) “federal society” means a society—
(a) not less than five members of which are themselves societies, and
(b) in which the voting rights are so regulated that the members which are societies have
not less than four-fifths of the total number of votes in the general meeting of such society;
(14) “firm” means a firm registered under the Indian Partnership Act, 1932 (IX of 1932);
2[(14-A) “functional director” means a Managing Director or a Chief Executive Officer by
whatever designation called, nominated by the Committee;]
(15) “general society” means a society not falling in any of the classes of societies defined by
the other clauses of this section;
3[(16) “housing society” means a society, the object of which is to provide its members with
open plots for housing, dwelling houses or flats; or if open plots, the dwelling houses or flats are
already acquired, to provide its members common amenities and services;]
4[(16A) “lift irrigation society” means a society, the object of which is to provide water supply,
by motive power or otherwise to its members, for irrigation and otherwise;]
(17) “Liquidator” means a person appointed as liquidator under this Act;
(18) “local authority” includes a school board and an agricultural produce market committee
constituted by or under any law for the time being in force;
(19)(a) “member” means a person joining in an application for the registration of a
co-operative society which is subsequently registered, or a person duly admitted to membership of
a society after registration, and includes a nominal, 5[or associate] member 6[and any depositor or
financial service user of primary agricultural co-operative credit society];
7[* * * *]
(b) “associate member” means a member who holds jointly a share of a society with
others, but whose name does not stand first in the share certificate;
(c) “nominal member” means a person admitted to membership as such after registration
in accordance with the by-laws;
8[* * * * * * * *]
1 Clause (11A) was inserted by Mah. 16 of 2013, s. 2(d).
2 Clause (14-A) was substituted by Mah. 36 of 2016, s. 2.
3 Clause (16) was substituted by Mah. 20 of 1986, s. 2(f).
4 Clause (16A) was substituted by Mah. 3 of 1974, s. 2(c)
5 These words were substituted for the words “associate or sympathiser” by Mah. 16 of 2013, s. 2(f)(i).
6 These words were added by Mah. 11 of 2008, s. 2(c).
7 Sub-clause (a-1) was deleted by Mah. 28 of 2022, s. 2.
8 Sub-clause (d) was deleted by Mah. 16 of 2013, s. 2(f)(iii).
18 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV
1[(19A) “National Banks” means the National Bank for Agriculture and Rural Development
(NABARD), constituted under the provisions of the National Bank for Agriculture and Rural
Development Act, 1981 (61 of 1981);]
(20) “officer” means a person elected or appointed by a society to any office of such s ociety
according to its by-laws; and includes 2[any office bearer such as a chairperson, vice-chairperson,
president, vice -president, managi ng director, manager, secretary, treasurer, member of the
committee and any other person, by whatever name called,] elected or appointed under this Act,
the rules or the by-laws, to give directions in regard to the business of such society;
3[(20-A) “Official Assignee” means a person or body of persons appointed by the Registrar
under sub-section (2) of section 21A;]
(21) “prescribed” means prescribed by rules;
(22) “processing society” means a society the object of which is the processing of goods;
(23) “producers’ society” means a society the object of which is, the production and disposal
of goods or the collective disposal of the labour of the members thereof;
(24) “Registrar” means a person appointed to be the Registrar of Co-operative Societies under
this Act;
(25) “resource society” means a society the object of which is the obtaining for its members
of credit, goods or services required by them;
(26) “rules” means rules made under this Act;
(27) “society” means a co-operative society registered, or deemed to be registered, under this
Act 4[, which is an autonomous association of persons, united voluntarily to meet their common
needs and aspirations through a jointly owned and democratically controlled enterprise and
adhering to the co-operative principles and values;]
(28) “society with limited liability” means a society having the liability of its members limited
by its by-laws;
(29) “society with unlimited liability” means a society, the members of which are, in the event
of its being wound u p, jointly and severally liable for and in respect of its obligation and to
contribute to any deficiency in the assets of the society;
5[(29-A) “State Co-operative Election Authority” means an authority constituted by the State
Government under section 73CB;]
6[* * * * * * * *]
(31) “working capital” means funds at the disposal of a society inclusive of paid -up share
capital, funds built out of profits, and money raised by borrowing and by other means.
CHAPTER II
REGISTRATION
3. Registrar 7[and his subordinates].— The State Government may appoint a person to be the
Registrar of Co -operative Societies for the State ; and may appoint one or more persons to assist such
Registrar, 8[with such designations, and in such local areas or throughout the State, as it may specify in
that behalf,] and may, by general or special order, confer on any such person or persons all or any of the
1 Clause (19A) was inserted by Mah. 11 of 2008, s. 2(d).
2 These words were substituted for the words “a chairman, vice -chairman, preside nt, vice-president, managing director,
manager, secretary, treasurer, member of the committee and any other person,” by Mah. 16 of 2013, s. 2(g).
3 Clause (20-A) was inserted by Mah. 20 of 1986, s. 2(g).
4 These words were inserted by Mah. 16 of 2013, s. 2(h).
5 Clause (29-A) was inserted by Mah. 16 of 2013, s. 2(i).
6 Clause (30) was deleted by Mah. 3 of 1974, s. 2(d).
7 These words were added by Mah. 27 of 1969, s. 3(c).
8 These words were inserted by Mah. 27 of 1969, s. 3(a).
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 19
powers of the Registrar under this Act. The person or persons so appointed to assist the Registrar and on
whom any powers of the Registrar are conferred, shall work under the general guidance, superintendence
and control of the Registrar. 1[They shall be subordinate to the Registrar, and subordination of such
persons amongst themselves shall be such as may be determined by the State Government].
2[3A. Temporary vacancies.— If the Registrar or a person appointed to assist such Registrar is
disabled from performing his duties or for any reason vacates his office or leaves his jurisdiction or dies,
then—
(a) in the case of the Reg istrar, the 3[Special,] Additional or Joint Registrar, in the office of
the Registrar, and
(b) in the case of a person appointed to assist the Registrar, the senior most officer holding
the next higher post, in the respective office,
shall, unless other provision has been made in that behalf, hold temporarily the office of the
Registrar or, as the case may be, of the person appointed to assist the Registrar in addition to his own
office and shall be held to be the Registrar or the person appointed to assist the Registrar under this Act,
until the Registrar or the person appointed to assist the Registrar resumes his office, or until such time
as the successor is duly appointed and takes charge of his appointment.]
4. Societies which may be registered.— A society, which has as its object the promotion of the
economic interests or general welfare of its members, or of the public, in accordance with co -operative
principles, or a society established with the object of facilitating the operations of any such society, may
be registered under this Act:
Provided that, no society shalExcerpt shown. Open the full act in Lexace.