Membership of Association or Society - NEPAL MONETARY SOLUTIONS (NMS)

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Friday, March 28, 2014

Membership of Association or Society

Membership of Association or Society

Membership of association
(1) The Nepalese citizens as follows may be members of an association:

(a) Persons who make an application for the registration of the association,

(b) Persons who reside within the jurisdiction of the association, subscribe the shares sold pursuant to Section 23 and intend to avail the services of the association, undertake to bear the responsibilities attached to membership and fulfill the terms and conditions mentioned in the Bye-law,

(c) Bodies which subscribe the shares sold pursuant to Subsection (1) of Section 23.

(2) A person who intends to become a member of an association has to make an application to its board.

(3) In the event of the refusal by the board to provide membership, the applicant may make a petition to the general meeting; and a decision made by the general meeting on such petition shall be final.

(4) The membership of those persons who have become share members by virtue of conversion of compulsory saving into share capital shall ipso facto lapse once they get the amount of saving refunded.

Membership of society
(1) The concerned sectoral associations within the jurisdiction of a sectoral society may obtain membership of the sectoral society in consonance with the provisions contained in the Bye-law of that society.

(2) All associations and sectoral societies within the concerned District may be members of a District cooperative society in consonance with the provisions contained in the Bye-law of that society.

(3) Sectoral associations and sectoral societies may be members of a central cooperative society in consonance with the provisions contained in the Bye-law of that society.

(4) All associations and other bodies as referred to in the Bye-law of a national cooperative society may be members of such national cooperative society in consonance with the provisions contained in the Bye-law of that society.

(5) The bodies which subscribe the shares of a society sold pursuant to Subsection (1) of Section 23 may be members of the society.

Termination of membership
The membership of an association or society shall be terminated in such circumstances as prescribed.

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