Short Answer

The signing authority for society bank cheques is typically determined by the society's resolution.

Detailed Explanation

Rule 113 of the Gujarat Cooperative Societies Rules, 1965 governs the signing of society bank cheques. This rule states that the signing authority for society bank cheques is usually determined by the society's resolution. The resolution passed by the society's committee specifies the individuals authorized to sign the cheques on behalf of the society.

In practice, the society's committee members, usually the President and Secretary, are commonly authorized to sign the society's bank cheques. However, this can vary depending on the specific resolution passed by the society. The resolution may also outline any specific conditions or restrictions related to cheque signing authority.

Real-world Scenarios

• In a cooperative housing society, the committee passes a resolution designating the President and Treasurer as the authorized signatories for all society bank cheques. Any cheque issued by the society must bear the signatures of both these office bearers.

• Another society may have a resolution allowing the Secretary alone to sign cheques up to a certain amount, while requiring dual signatures for cheques exceeding that limit.

Step-by-step process:

• The society's committee convenes a meeting to discuss and pass a resolution regarding the signing authority for society bank cheques.

• The resolution is documented and recorded in the society's official records.

• The authorized signatories are informed of their responsibilities and the conditions attached to cheque signing.

Reference

• Rule 113 of the Gujarat Cooperative Societies Rules, 1965: [Official PDF]