Re: Indemnity bond to be signed by Co-op. socy managing comittee members
Under Section 73 [(1- A)(a) of Maharashtra Co-op. Soc Act 1960 the provisional/permanent Managing Committee members need to execute the M20 Bond within 15 days from their resuming office. If they fail to do so - action or decisions taken by them becomes invalid and they will be deemed to vacate the society office.
Under section 32(1) you can inspect the same in your society office during office hours. And under section 32(2) you can demand in writing the copies of the same to be given to you on payment of legitimate charges prescribed in the accepted bye-laws of the society.
If M20 Bond is not submitted to the Registrar, you may file a written complaint and get an acknowledgement from his office. After a month or two of no reply, you can file a RTI application to his office for getting day-to-day status report of your earlier filed complaint. This will compel him to take some action against the erring Society Committee Members or provide you with some explaination.
The Registrar can dismiss elected committee members on receiving complaint and can appoint an Administrator (generally an approved person from the Co-op Societies Federation from that district) for the tme being. Then he conducts a fresh poll for the new managing committee and completes the mandatory procedure (which has no set time frame by the law). Till then the society has to pay Administrators monthly remuneration.