Can a society hold property?

Can a society hold property?

A society so registered is a legal person just as an individual but with no physical existence. As such it can acquire and hold property and can sue and be sued. The society should be registered under the Act to acquire the status of juridical person.

How do I check my society registration online?

Visit the government official website of property records. Once you reach the home page scroll down towards the footer of the page. Once you tab the society option you will be redirected to a new window. At last enter captcha code.

Can a society run without registration?

Society cannot act as a separate legal entity until and unless it gets registered under the Societies Registration Act, 1860. In the absence of registration, the Society cannot hold the right to enforce any legal proceeding in the court for the settlement of legal disputes.

What are the compliances for society?

Annual Compliance for Society 1. Filing of the annual report along with the list of office bearers/ governing body members with the Registrar. 2. Filing of the income tax return annually.

What are the rights of society members?

Members Rights in a Society

  • Section 16. Persons who may become members.
  • Section 17. Restrictions on individual membership.
  • Section 18. Associate members.
  • Section 19. Member not to exercise rights till due payment made.
  • Section 20. Vote of members.
  • Section 21. Manner of exercising vote.
  • Section 22.
  • Section 23.

How can a society sell its property?

A member wanting to transfer his shares and interest in the capital or property of a society should give 15 days notice of his intentions to do so to the secretary of the society on the prescribed form, along with the consent of the proposed transferee, also on the prescribed form.

How do I register a cooperative society?

Documents for Registration

  1. A certified copy of the Resolution passed at the first meeting of the group with the Province Cooperative Officer (PCO).
  2. Feasibility study report on how the Society operates.
  3. Four copies of proposed by-laws of the Society.
  4. Letter of intent (to join the society) from prospective members.

What is registration certificate for trust?

It defines the relationship of the Trustor with the Trustees and specifies the objectives for which such a Trust is formed. Such a document should contain the names, addresses and occupations of all the members along with their signatures. As a Trust, you need to prepare the Trust Deed on stamp paper.

Can family members be members of society?

Members of the family cannot be members of society. Trustees generally hold the position for a lifetime provided the trust deed states otherwise.

What are the benefits of registering a society?

Purpose of Society Registration

  • Promotion of fine arts.
  • Diffusion of political education.
  • Grant of charitable assistance.
  • Promotion of science and literature.
  • Creation of military orphan funds.
  • Maintenance or foundation of galleries or public museum.
  • Maintenance or foundation of reading rooms or libraries.

What are By-Laws of a society?

Bye-laws are the guidelines, which have provisions relating to the affairs of the society and its functioning. Bye-laws are required to ensure proper maintenance and resolve the residents’ issues in a timely and effective manner.

How does a society may expel a member?

provision of the bye-laws] may be expelled upon a resolution of the general body passed at a special meeting convened for the purpose by the votes of not less than two-thirds of the total number of members present and voting at the meeting.

Can a member hold more than one flat in a society?

While preparing the final list of voters, the managing committee resolved that in accordance with the society’s bye-laws, a member holding more than one flat would be eligible for one vote only.

Can a society transfer its property?

Any society may, by resolution passed by not less than three fourths of all the members present and voting at a special general meeting called for the purpose, agree to transfer its assets and liabilities to any other society which has agreed to accept them.

What are the assets of a society?

Assets are things of financial value that a housing society owns, such as cash balance, bank balance, investments in FDs, dues from members, fixed assets of the Society, and TDS receivable from parties. Liabilities are the financial obligations of a housing society.

What are types of cooperative society?

Let’s explore the six major types of co-operatives that exist in India.

  • Consumer Cooperative Society.
  • Producer Cooperative Society.
  • Co-operative Credit Societies.
  • Marketing Cooperative Society.
  • Housing Cooperative Society.
  • Co-operative Farming Societies.

What is the difference between trust and society?

A trust is an agreement between parties, whereby one party holds an asset for the benefit of another party. Society is a collection of persons, who come together for the initiating any literary, scientific or charitable purpose.

Is it compulsory to register a trust?

​​​​​​​Is registration of a trust mandatory? It is mandatory for a trust to get the registration under section 12AB of the Income-tax Act, 1961 so as to claim exemption under Section 11.

How will sale the property on society to a individual?

Submit an application for membership of the proposed transferee on the prescribed form. Give valid reasons for the proposed transfer Discharge all the liabilities of the society Pay the transfer fee Remit entrance fee payable by the proposed transferee. Pay the premium at a rate to be fixed by the general body.

Who can be a member of society?

Bye Law No 17(a) Eligibility for Membership of the Society Individual who is competent to contract under the Indian Contract Act, 2; ii. a Firm, Company or any other Body Corporate constituted under any Law for the time being in force, or a Society registered under the Societies Registration Act, 1860; iii.

What are the disadvantages of society?

Disadvantages of a Society (a) It sets norms and thus curbs individual freedom to grow. (b) Society uses coercive methods for compliance of social norms. (c) Coercion can be physical and mental, which is detrimental to the general health of an individual.

Can a society committee member be removed?

The chairman, treasurer and secretary of a building may be removed by the passing of a no-confidence motion against them. This can only be done in a meeting called by the other members of the managing committee, presided by the area authority (Registrar, in case of Maharashtra).

Who has the power to remove the members of the managing committee?

There is a provision under society bye-laws to remove an office bearer of the committee during his / her tenure if a motion of no confidence is passed at a meeting of the committee. There should be a majority of 2/3rd of the total number of committee members, who have the right to sit and vote at the committee meeting.

What can I do with the BC Business Registry?

Make payment using a BC OnLine deposit account or by credit card when accessing services through Corporate Online, Name Requests Online, or when filing an annual report for a society. You cannot use the Business Registry to make filings for limited companies. Complete transactions for incorporated companies. Here are some examples:

What is the meaning of Register of societies and Registrar?

“register of societies” means the register of societies and extraprovincial non-share corporations maintained by the registrar; “registrar” means the individual appointed as the Registrar of Companies under section 400 [appointment of registrar and staff] of the Business Corporations Act;

When can a pre-existing society apply for registration under the former act?

202 (1) If the former Act is repealed on or before December 31, 2015, despite the repeal, a pre-existing society may apply on or before December 31, 2015 under section 88 of the former Act, as it read immediately before that repeal, for registration under Part 10 of the former Act.

When is a previously registered society deemed to be an extraprovincial Society?

247 (1) A previously registered extraprovincial society is deemed to be registered under Division 2 [Registration] of Part 11 [Extraprovincial Non-Share Corporations] of this Act unless its registration is cancelled under Division 4 [Cancellation of Registration] of that Part.