Act Info:
(1) This Act may be called the1[Karnataka] Co-operative Societies Act, 1959.
(2) It extends to the whole of the1[State of Karnataka].
(3) It shall come into force on such2[date] as the State Government may, by notification in the official Gazette, appoint.
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1. Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973.
2. Act came into force on 1.6.1960 by notification. Text of the notification is at page 146.
Section 2 - Definitions
In this Act, unless the context otherwise requires,--
1 [(a) 'Apex Society' means a federal society whose area of operation extends to the whole of the State;
[(a1) 'Assisted Society' means a co-operative society which has received the Government assistance in the form of share capital from the Government.]
2 [(a2)] 'bye-laws' means the bye-laws registered or deemed to be registered under this Act and for the time being in force and includes a registered amendment of the bye-laws;
3 [(a3) `Chief Executive' means any employee of a co-operative society by whatever designation called and includes an official of the State Government, an employee of any other institution or co-operative society who discharges the functions of a Chief Executive under the Act, rules or the bye-laws;]
4 [2 [(a4)] Director of Co-operative Audit' means the Director of Cooperative Audit referred to in sub-section (1) of section 2AA who performs the functions of the Director of Co-operative Audit under this Act and includes an Additional Director of Co-operative Audit, a Joint Director of Co-operative Audit, a Deputy Director of Co-operative Audit, and an Assistant Director of Co-operative Audit appointed to assist the Director of Co-operative Audit when exercising all or any of the powers of the Director of Co-operative Audit.]
(b) 'committee' means the governing body of a co-operative society, bywhatever name called, to which the management of the affairs of the society is entrusted;
5 [(b1) "Co-operative Bank" means a Co-operative Society which is doing the business of banking.
Explanation.--For the purpose of this clause "banking" shall have the meaning assigned to it in section 5 of the Banking Regulation Act, 1949 (Central Act 10 of 1949).]
(c) 'co-operative society' means a society registered or deemed to beregistered under this Act;
(d) 'co-operative society with limited liability' means a co-operative societyin which the liability of its members, for the debts of the society in the event of its being wound up, is limited by its bye-laws,--
(i) to the amount, if any, unpaid on the shares respectively held by them; or
(ii) to such amount as they may, respectively, undertake to contributeto the assets of the society;
6 [(d1) `Co-operative Year or year' means the year commencing from the first day of April;]
(e) 'co-operative society with unlimited liability' means a co-operativesociety, the members of which are, in the event of its being wound up, jointly and severally liable for and in respect of all its obligations and to contribute to any deficit in the assets of the society;
7 [(e1) 'credit agency' means a credit agency as defined in the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974 3 [and includes any other body or corporation or financial institution which gives financial assistance to a co-operative society and has been notified by the State Government from time to time];]
8 [9 [(e2)] 'Deposit Insurance Corporation' means the Deposit Insurance Corporation established under section 3 of the Deposit Insurance Corporation Act, 1961 (Central Act 47 of 1961);
3 [(e3) `employee' means a salaried employee of a co-operative society and includes an official of the State Government or any employee of any other institution or co-operative society who for the time being is working in a co-operative society;
(e4) 'federal society' means a co-operative society, the membership of which is not open to individuals:
Provided that nothing in this clause shall apply to admission of individuals as nominal members;]
9 [(e5)] 'Financing Bank' means a co-operative society, the main object of which is to make advances in cash or in kind to other co-operative societies;]
(f) 'member' means a person joining in the application for the registration of a co-operative society and a person admitted to membership after such registration in accordance with this Act, the rules and the bye-laws and includes a nominal and an associate member;
10 [(g) 'office bearer', means the President, Vice-President, Chairperson, Vice-Chairperson, Liquidator, Administrator, Special Officer and includes a member of the committee or any other person not being an employee empowered to exercise any power or perform any function in regard to the business of a co-operative society and to give directions in regard to policies affecting the business of the society;]
(h) 'prescribed' means prescribed by rules made under this Act;
3 [(h1) 'primary society' means a co-operative society whose membership is not open to another co-operative society;]
11 [(i) 'Registrar' means a person appointed to perform the functions of the Registrar of Co-operative Societies under this Act, and includes an Additional Registrar of Co-operative Societies, a Joint Registrar of Cooperative Societies, a Deputy Registrar of Co-operative Societies and an Assistant Registrar of Co-operative Societies appointed to assist the Registrar when exercising all or any of the powers of the Registrar;]
8 [(i-1) 'Reserve Bank' means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (Central Act 2 of 1934)]
(j) 'rules' means the rules made under this Act,
10 [(j-1) `Scheduled Castes and Scheduled Tribes' means the Scheduled Castes and Scheduled Tribes specified in respect of the State of Karnataka in the Constitution (Scheduled Castes) Order, 1950 and the Constitution (Scheduled Tribes) Order, 1950 for the time being in force;
(j2) 'secondary society' means a co-operative society whose membership is also open to another co-operative society;
(j3) "State Representative' means any person appointed as State representative under section 2A;]
11 [(k) 'Tribunal' means the tribunal constituted under section 2B.]
(l) references to any enactment or provision of law not in force in any Area of the 12 [State of Karnataka] shall be construed as references to the corresponding enactment or provision of law, if any, in force in that Area.
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1. Clause (a) and (a1) Inserted by Act 25 of 1998 w.e.f.15.8.1998 by notification. Text of the notification is at page148.
2. Re-numbered by Act 25 of 1998 w.e.f. 15.8.1998.
3. Inserted by Act 25 of 1998 w.e.f. 15.8.1998.
4. Inserted by Act 3 of 1980 w.e.f. 11.8.1977 & 10. Substituted by Act 25 of 1998 w.e.f. 15.8.1998.
5. Inserted by Act 39 of 1975 w.e.f. 23.9.1975 by notification. Text of the notification is at page 147 & 10. Substituted by Act 25 of 1998 w.e.f. 15.8.1998.
6. Inserted by Act 5 of 1984 w.e.f. 9.1.1984 & substituted by Act 25 of 1998 w.e.f.15.8.1998.
7. Inserted by Act 2 of 1975 w.e.f. 17.7.1975 by notification. Text of the notification is at page 147.
8. Inserted by Act 39 of 1975 w.e.f. 23.9.1975.
9. Re-numbered by Act 25 of 1998 w.e.f.15.8.1998.
10. Substituted by Act 25 of 1998 w.e.f. 15.8.1998.
11. Substituted by Act 40 of 1964 w.e.f. 26.6.1965 by notification. Text of the notification on page 146.
12. Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973.