Can society funds be used for cultural activities?
A CGHS can levy charges and fees ONLY for such purposes as are permitted under the society bye-laws. Thus, if your society bye-laws do not permit levy of charges or a fund for cultural activities, then the managing committee is not permitted to do so.
What is the role of committee members in housing society?
1.To consider acceptance of deposits from Members and raising of funds. 2.To consider and recommend to the meeting of the general body, the rates of contribution. 3.To consider all matter relating to the creation, investment and utilization of the Repairs & maintenance, Reserve Fund and Sinking Fund.
What is bye laws of cooperative society?
Bye-laws include the objects of the society and completely define and restrict the society’s activities, but the rights and liabilities of members are determined by the Act and not by the bye-laws as such. The bye-laws are the basic structure of the society and are binding on the members.
How much funds are provided for Organising Cultural Festival?
5.00 lakhs per project as recommended by the Expert Committee. The Ministry may in exceptional circumstances, increase the assistance to any project of outstanding merit and relevance upto Rs. 20 Lakhs with the approval of Hon’ble Minister of Culture.
Can society charge interest on repair fund?
if interest is chargeable on default payment of repair fund or sinking fund? one of the member is strong and confirm stating that society can not charge interest on repair fund or sinking fund. Society can charge interest only on government dues (property tax, water tax etc) collected by society.
What if Secretary resigns from committees?
On the failure of the Secretary of the outgoing Committee to convene the joint meeting, the Chairman of the outgoing Committee shall call it. On the failure of both, the Registration Authority may call such a meeting.
What are the powers of managing committee?
The Managing Committee shall have the following powers and duties:- a To set up committees and sub-committees to achieve the aims and objectives of the Association. b To prepare the Annual Budget of the Association and implement it, as approved by the General Body.
What are the disqualification of board of directors in a co-operative society?
( a ) Has been adjudged by a competent court to be insolvent or of unsound mind; ( b ) is concerned or participates in the profits of any contract with the society; (f ) has interest in any business of the kind carried on by the society of which he is a member.
Can Housing Society collect celebration funds as part of monthly maintenance?
In order to meet the expenses most of Housing Societies are collecting either as Cultural Fund and or Festival fund as a part of regular monthly maintenance. There is neither an express prohibition nor permission to collect compulsory contributions for cultural fund which are voluntary in nature.