Housing Co operative society committee legal status
8 months ago
Hi team, there was M20 bond which needs to be signed by every committee members elected but it was discontinued.My question is there any same kind of obligation under Maharashtra societies act? Do they have to sing or comply?
The M-20 Bond was an undertaking given by each Managing Committee Member within 45 days of his assuming the Office of the Society. By implication, any person who signed Society Documents without signing an M-20 bond on assuming the Office of the Society was liable for prosecution for serious crimes including fraud, cheating, misrepresentation and forgery. On 6th Sept 2012 the then Government of Maharashtra scrapped the mandatory M20 bonds for society Managing Committee after resuming office which was reintroduced in 2021. Actually, the Bonds were in the form of indemnity towards society affairs and there were criminal offenses imposed for non-compliance. The Maharashtra government in January 2021 notified that all elected members of the managing committee (MC) of cooperative housing societies established under the Maharashtra Co-operative Societies Act, 1960, have to execute a bond holding them ‘jointly and severally’ responsible for all the decisions the committee takes. Under the MCS (Amendment) Rules, 2002, a new form, M-20, has been inserted, whereby elected members of the managing committee have to declare they are jointly and severally responsible for all the acts and omissions detrimental to the interests of the society. For further clarification in this regard, you need to visit the Registrar of Societies office.
Amod Dabke
Replied 8 months ago
Thanks sir and i hope we can apply to RTI or owner of flat can give formal application and documents will be shown in society office as per normal process and get info if managing committee has signed it or not? So that we will come to know the legal status of committee.i asked this question because most of committees haven't signed it but still operational because of other society members don't have idea of it and hesitate to question commitee and it's members about it
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