The Maharashtra Co-operative Societies Act, 1960 was enacted to consolidate and amend laws governing cooperative societies in Maharashtra, replacing earlier Bombay Co-operative Societies Acts. Post-independence, cooperatives played a vital role in rural development, agriculture, credit, and marketing. This Act provided a legal framework for their formation, regulation, and dissolution while ensuring democratic governance, financial accountability, and state supervision. Key provisions include registration of societies (Sections 3–10), membership rights (Sections 22–30), management & audits (Sections 73–81), and dispute resolution (Sections 91–97). The Act balances autonomy with regulatory oversight to promote socio economic welfare. Below is the bare act text for reference:
THE MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960
(MAHARASHTRA ACT No. XXIV OF 1961)
[Effective from 26th January 1962]
Key Provisions:
Registration & Constitution (Sections 3–10):
Procedure for society registration (Section 4).
By-laws and governance structure (Section 9).
Membership & Rights (Sections 22–30):
Eligibility, voting rights, and expulsion (Sections 22–25).
Management & Administration (Sections 73–81):
Elections, duties of committees, and audits (Section 75–81).
Dispute Resolution (Sections 91–97):
Arbitration and appeal mechanisms (Section 96).
Dissolution & Liquidation (Sections 100–110):
Winding up process and asset distribution (Section 105).
Bare Act Excerpts
Section 4 – Registration:
A society may be registered under this Act for promoting economic interests of its members.
Section 22 – Membership:
Any person above 18 years, competent to contract, may join a society.
Section 73 – Audit:
Societies must undergo annual audits by Registrar-appointed auditors.
Section 91 – Disputes:
Disputes shall be referred to the Registrar for arbitration.
Purpose & Impact
The Act strengthened Maharashtra’s cooperative movement by ensuring transparency, accountability, and member welfare, making it a model for other states. It remains pivotal for agriculture, credit, housing, and urban cooperatives.