Annual general meeting of general body of Multi state cooperative society (l) The board of all the multi state cooperative societies shall within such period as may be prescribed, and not later than six months after the close of the corresponding year, call the annual general meeting in the manner prescribed for the purpose of -
(a) consideration of the audited statement of accounts;
(b) consideration of the audit report and annual report;
(c) consideration of audit compliance report;
(d) disposal of net profits;
(e) review of operational deficit, if any;
(f) creation of specific reserves and other funds;
(g) approval of the annual budget;
(h) review of actual utilization of reserve and other funds;
(i) approval of the long-term perspective plan and the annual operational plan;
(j) review of annual report and accounts of subsidiary institution, if any;
(k) expulsion of member;
(1) list of employee which are relatives of members of the board or of the Chief Executive;
(m) amendment of bye-loge as, if any;
(n) formulation of code of conduct for the members of the board and officers;
(o) election of members of the board, if any.
(2) Where the board of a credit cooperative society in Delhi fails to convene the annual general meeting within the period specified in sub-section (1), the Central Registrar or the person authorized by him in this behalf shall be competent to convene such annual general meeting within a period of ninety days from the date of expiry of the period mentioned in that sub-section and the expenditure incurred on such meeting shall be borne by the society.
(3) At every annual general meeting of a multi state cooperative society, the board shall lay before the society a statement showing the details of the loans or goods on credit, if any, given to any of the members of the board or to the spouse or a son or daughter of a member of the board during the preceding year or outstanding against him or against such spouse or son or daughter of the member of the board in registrar for co-operative society.