Section 2 - Definitions
In this Act, unless the context otherwise requires,--
(1) "agricultural marketing society"
means a society--
(a) the object of which is the marketing of agricultural produce and the supply of implements and other requisites for agricultural production, and
(b) not less than three-fourths of the members of which are agriculturists, or societies formed by agriculturists;
(2) "apex society",means a society,--
(a) the area of operation of which extends to the whole of the State of Maharashtra,
(b) the main object of which is to promote the principal objects of the societies affiliated to it as members and to provide for the facilities and services to them, and
(c) which has been classified as an apex society by the Registrars;.
(3) * * * * * *
(4) "bonus" means payment made in cash or kind out of the profits of a society to a
member, or to a person who is not a member, on the basis of his contribution (including
any contribution in the form of labour or service) to the business of the society, and in the
case of a farming society, on the basis both of such contribution and also the value or
income or as the case may be, the area of the lands of the members brought together for
joint cultivation as may be decided by the society [but does not include any sum paid or
payable as bonus to any employee of the society under the payment of Bonus Act, 1965;.
(5) "by-laws" means by-laws registered under this Act and for the time being in force and includes registered amendments of such by-laws;
(6) "Central Bank" means a co-operative bank, the objects of which include the creation
of funds to be loaned to other societies; but does not include the urban cooperative
means the committee of management or board of directors or other
directing body, by whatever name called, in which the management of the affairs of a
society is vested under section 73
(8) "Company" means a company as defined in the Companies Act, 1956 and includes a
Banking Company and also any board, corporation or other corporate body, constituted
or established by any Central, State or Provincial Act for the purpose of the development
of any industry; .
(9) "consumer society"
means a society, the object of which is--
(a) the procurement, production or processing, and distribution of goods to or the
performance of other services, for, its members as also other customers, and
(b) the distribution among its members and customers, in the proportion, prescribed by
rules or by-laws of the society, of the profits accruing from such procurement, production
or processing and distribution;
(10) "co-operative bank" means a society which is doing the business of banking as
defined in clause (b) of sub-section (1) of section 5 of the Banking Companies Act, 1949
and includes any society which is functioning or is to function as [an Agriculture and Rural Development Bank] under Chapter XI;
(10-ai) "Co-operative Appellate Court" means the Maharashtra State Co-operative
Appellate Court constituted under this Act;
(10-aii) "Co-operative Court" means a court constituted under this Act to decide [disputes referred to it under any of the provisions of the Act];
(10-aiii) "co-operative year" means a year ending on the [31st day of March]; or on
such other day in regard to a particular society or class of societies [as may have been
fixed by the Registrar, from time to time], for balancing its or their a society or class of societies accounts;
(10-A) "crop protection society" means a society the object of which is protection of
the crops, structures, machinery, agricultural implements and other equipment such as
those used for pumping water on the land;
(11) "dividend" means the amount paid, out of the profits of a society, to a member in
proportion to the shares held by him;
(12) "farming society" means a society in which, with the object of increasing agricultural
production, employment and income and the better utilisation of resources, lands are
brought together and jointly cultivated by all the members, such lands (a) being owned by
or leased to the members (or some of them), or (b) coming in possession of the society in
any other manner whatsoever;
(13) "federal society"
means a society--
(a) not less than five members of which are themselves societies, and
(b) in which the voting rights are so regulated that the members which are societies have
not less than four-fifths of the total number of votes in the general meeting of such society;
(14) "firm" means a firm registered under the Indian Partnership Act, 1932;
(15) "general society" means a society not falling in any of the classes of societies defined
by the other clauses of this section;
(16) "housing society" means a society, the object of which is to provide its members
with open plots for housing, dwelling houses or flats; or if open plots, the dwelling
houses or flats are already acquired, to provide its members common amenities and
(16-A) "lift irrigation society"means a society, the object of which is to provide water
supply, by motive power or otherwise to its members, for irrigation and otherwise;
(17) "Liquidator" means a person appointed as liquidator under this Act;
(18) "local authority" includes a school board and an agricultural produce market
committee constituted by or under any law for the time being in force;
(a) "member" means a person joining in an application for the registration of a cooperative
society which is subsequently registered, or a person duly admitted to -
membership of a society after registration and includes a nominal, associate or
(b) "associate member" means a member who holds jointly a share of a society with
others, but whose name does not stand first in the share certificate;
(c) "nominal member" means a person admitted to membership as such after registration
in accordance with the by-laws;
(d) "sympathiser member" means a person who sympathises with the aims and objects of
the society and who is admitted by the society as such member;
(20) "officer" means a person elected or appointed by a society to any office of such
society according to its by-laws; and includes a chairman, vice-chairman, president, vice president,
managing director, manager, secretary, treasurer, member of the committee
and any other person elected or appointed under this Act, the rules or the by-laws, to give
directions in regard to the business of such society;
(21) "prescribed"means prescribed by rules;
(22) "processing society" means a society, the object of which is the processing of goods;
(23) "producers society" means a society, the object of which is, the production and
disposal of goods or the collective disposal of the labour of the members thereof;
(24) "Registrar" means a person appointed to be the Registrar of Co-operative Societies
under this Act;
(25) "resource society" means a society, the object of which is the obtaining for its
members of credit, goods or services required by them;
(27) "society" means a co-operative society registered, or deemed to be registered, under
(28) "society with limited liability" means a society having the liability of its members
limited by its by-laws;
(29) "society with unlimited liability" means a society, the members of which are, in the
event of its being wound up, jointly and severally liable for and in respect of its
obligations and to contribute to any deficiency in the assets of the society;
(30) * * * * * *
(31) "working capital" means funds at the disposal of a society inclusive of paid up share
capital, funds built out of profits, and money raised by borrowing and by other means.
1. Clause (2) was inserted by Mah. 20 of 1986, s. 2(a).
2. Clause (3) was deleted, by Mah. 20 of 1986, s. 2(b).
3. This portion was added by Mah. 27 of 1969, s. 2(a).
4. Clause (6) was substituted for the original by Mah. 20 of 1886, s. 2(c).
5. Clause (7) was substituted, by Mah. 20 of 1886, s. 2 (d).
6. Clause (10) was substituted by Mah. 33 of 1963, s. 2.
7. These words were substituted for the words "a Land Development Bank" by Mah. 10 of 1988, s. 2.
8. Clauses (10-ai) and (10-aii) were inserted by Mah. 3 of 1974, s. 2(b).
9. Clauses (10-ai) and (10-aii) were inserted by Mah. 3 of 1974, s. 2(b).
10. Clause (10-aiii) was inserted by Mah. 20 of 1986, s.2(e).
11. This figures, letters and words were substituted for 31st day of June" by Mah. 13 of 1994, s. 2(a).
12. This portion was substituted by Mah. 13 of 1994, s. 2(b).
13. Clause (10-A) was inserted by Mah. 27 of 1969, s. 2(b).
14. Clause 16, was substituted by Mah. 20 of 1986, s. 2(f).
15. Clause (16-A) was substituted by Mah. 3 of 1974, s. 2(c).
16. Clause (20-A) was inserted by Mah. 20 of 1986, s. 2(g).
17. Clause (30) was deleted by Mah. 3 of 1974, s. 2(d).