Documentation, Records, and Audits

What books does the society secretary have to maintain by law (for example, register of shares)?

The society secretary is required by law to maintain various books, including the register of members, register of shares, minutes book, cash book, and other necessary records.

The society secretary is required by law to maintain various books, including the register of members, register of shares, minutes book, cash book, and other necessary records.

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Short Answer

The society secretary is required by law to maintain various books, including the register of members, register of shares, minutes book, cash book, and other necessary records.

Detailed Explanation

Section 32 of the Gujarat Cooperative Societies Act, 1961 mandates that the society secretary must maintain certain books and records. This includes the register of members, which contains details of all members of the society, their addresses, and the date on which they became members. The register of shares, as per Section 33 of the Act, must also be maintained by the secretary. This register records the shares held by each member, the amount paid on those shares, and any transfers of shares.

In practice, the secretary must ensure that these books are accurately maintained and updated regularly. For example, when a new member joins the society, their details must be promptly entered into the register of members. Similarly, any changes in shareholding must be recorded in the register of shares to reflect the current ownership structure of the society.

Real-world Scenarios

  • Scenario 1: A new member, Mr. Patel, joins a cooperative society. The secretary must enter Mr. Patel's details in the register of members, including his name, address, and date of membership.

  • Scenario 2: Ms. Shah transfers her shares to another member. The secretary needs to update the register of shares to reflect this transfer accurately.

Step-by-step process:

  • Obtain the necessary books as per the Act and Rules.

  • Enter new member details in the register of members.

  • Update the register of shares for any changes in shareholding.

  • Maintain the minutes book, cash book, and other records as required by law.

Reference

  • Section 32 and Section 33 of the Gujarat Cooperative Societies Act, 1961: [Official PDF]

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