All cooperative housing societies must be registered with the Registrar of Cooperative Societies in their respective states. Here is the general process involved in the registration of a cooperative society.
- Prepare the society’s bylaws: Prepare a set of bylaws for the society, which should include details about its governance structure, rules for membership, and procedures for holding meetings and conducting business.
- Form a managing committee: Form a managing committee for the society, which will be responsible for its day-to-day operations and management.
- Obtain a copy of the society’s proposed site plan: Obtain a copy of the society’s proposed site plan from the architect or builder, which should include details about the layout and design of the society’s buildings and common areas.
- Apply for registration: Apply for registration with the Registrar of Cooperative Societies in the state of Maharashtra, using the prescribed form and submitting the required documents, including the bylaws, site plan, and list of members.
- Obtain approval: Obtain approval for the society’s registration from the Registrar of Cooperative Societies, who will review the application and the society’s bylaws to ensure that they are in compliance with relevant laws and regulations.
- Register the society: Register the society with the Registrar of Cooperative Societies by completing the required formalities and paying the relevant fees.
- Obtain a certificate of registration: Obtain a certificate of registration for the society, which serves as proof of its legal status and allows it to function as a cooperative housing society.
- Obtain NOC: Obtain a No Objection Certificate (NOC) from the local authorities, such as the municipality or the development authority, which certifies that the proposed site is suitable for the construction of a housing society.
- Notarize the bylaws: Notarize the society’s bylaws, which involves getting them signed and stamped by a notary public to ensure that they are legally valid.
- Appoint auditors: Appoint auditors for the society, who will be responsible for auditing its financial statements and ensuring that its accounts are accurate and in compliance with relevant laws and regulations.
- Obtain PAN and TAN: Obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the society, which are required for tax purposes.
- Open a bank account: Open a bank account in the name of the society, which will be used to manage its finances and maintain its reserves.
The documents required for the registration of a cooperative housing society
- A Memorandum of Association, approved by the Registrar of Cooperative Societies.
- A list of members and office bearers of the society.
- A list of assets of the society.
- A registration fee.
- A bank statement showing the minimum amount of capital deposited in the society’s bank account.
In addition to the above documents, society must also:
- Draft and approve rules and regulations for the internal administration of the society.
- Appoint a qualified auditor to audit the accounts of the society on an annual basis.
- File the annual returns with the Registrar of Cooperative Societies.
- Maintain records of its members, meetings, accounts, and other relevant documents.
- Ensure that all its assets are adequately insured to protect them against any losses or damages.
Please note, this is just a general guideline. There may be additional steps involved in the process of registering a cooperative housing society & which may have some additional state-specific requirements. Also note that the specific requirements may vary depending on the type and size of the society, and it is advisable to consult with a legal expert for specific and up-to-date information.
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