Short Answer

Retired or senior members may have special participation rights as per the by-laws of the cooperative society.

Detailed Explanation

Section 29 of the Gujarat Cooperative Societies Act, 1961 empowers cooperative societies to make by-laws governing the rights and privileges of its members. By-laws can provide special status or rights to retired or senior members regarding their participation in society affairs. This means that retired or senior members may have specific voting rights, eligibility for certain positions, or privileges in decision-making processes based on the by-laws.

For example, a cooperative society's by-laws may stipulate that retired members have the right to nominate a representative to the managing committee or have a separate voting bloc on certain matters. These provisions aim to ensure that the experience and wisdom of retired or senior members are valued and utilized in the cooperative society's functioning.

In practice, these special participation rights for retired or senior members can foster inclusivity, diversity, and a sense of community within the cooperative society. It can also help in leveraging the expertise and knowledge of retired members for the benefit of the society as a whole.

Real-world Scenarios

• Scenario 1: The by-laws of a cooperative housing society grant retired members the authority to form a separate advisory council to provide guidance on financial matters.

• Scenario 2: A cooperative credit society allows senior members to have a veto power on decisions related to large investments as per the by-laws.

• Scenario 3: A cooperative agricultural society reserves a certain number of seats on the board for retired members as per their by-laws.

Reference

• Section 29 of the Gujarat Cooperative Societies Act, 1961: [Official PDF]