Sign in  |  Join now  |  Post an Info 
Info Bank  »  Law Infos  »  How To Register A Co Operative Housing Society (CHS)?

How To Register A Co Operative Housing Society (CHS)?

last updated » 16th Jan 2010
housing society building


This info contains:
Firstly, to register a society, a chief promoter needs to be elected in a meeting of the promoters. Generally, in the 'flat owners' type of cooperative society the builder has first right to act as the chief promoter.

The builder or the flat purchasers should first call a meeting of the promoters by issuing a notice for the agenda of the meeting. The notice given to the promoters should be given at least 14 days prior to the meeting. The chief promoter elected in such a meeting can exercise powers and carry out such function as mentioned in the minutes of the promoters of the proposed cooperative society.

Once the chief promoter is elected the promoters should decide upon the name of the proposed cooperative housing society. This should be accompanied with the signatures of at least ten promoters who have attended the meeting.

After the allotment of the society's name, the registrar gives the permission to open a bank account in the name of the society. The chief promoter now has to collect the share capital and entrance fees from the promoters and deposit this amount in the branch of the bank permitted by registrar. This amount cannot be withdrawn from the bank till society is registered (or it's registration is refused), except with the prior written permission of the registrar.

The chief promoter should submit the registration proposal to the registering authority, within a period of three months from the date on which the 'letter of reservation' in the name of the proposed society was issued.
I found this article    
Related Searches

Other Law infos you may like to read

chs redevelopment
Redevelopment of properties of existing Co-operative Housing Societies has been a subject of great i...
chs sinking fund
Any building require some or the other kind of repairs after every 6-10 years. Depending upon the na...
buy or sell a home
How you can dispose off a property for which you are still paying an EMI, or to purchase one that is...
This info gives you some basic and important tips to safeguard yourself in case you're keeping payin...
Copyright © 2013 go2inbox.com - All rights reserved
Site developed and maintained by MYZOW
Also recommended for you
In case CHS dues are pending with a defaulter member, the society can resort to the provisions of se...