Section Text
the committee of a co-operative housing society to the members strictly on the basis of draw of lots only in respect of such members whose enrolment as a member of a co-operative housing society is found proper in accordance with the provisions of this Act, rules framed thereunder and the bye-laws of the co- operative housing society * by the Registrar with the prior approval of a committee as prescribed and such a draw of lot shall be conducted by the lessor of the land in accordance with the terms and conditions of lease.
(2) If any draw of lot is held in violation of the above provisions it shall be void and any financial loss on account of this shall be recovered as arrears of land revenue from persons who were responsible for it and such persons shall be debarred from holding any office in the co-operative housing society in future.
(3) Every member of a co-operative housing society, whether registered before or after the commencement of this Act, to whom plots of lands, flats, houses or other dwelling units have been allotted, shall be issued certificate of occupancy by the co-operative housing society under its seal and signature in such form, on such terms and on such conditions as may be prescribed and such certificate shall be issued forthwith when all the dues as may be determined and notified by the co-operative housing society are duly paid by the member. Section 78 - Provision for nomination