In a relief to nearly 80,000 co-operative housing societies with less than 200 members, the State cabinet on Tuesday approved a proposal to amend the Maharashtra Cooperative Societies Act, 1960, which allows them to hold their elections every five years.
Housing societies that have fewer than 200 members currently have to request the State Cooperative Election Authority to conduct their elections, making the procedure tedious and expensive. After the amendment in the co-operative law, the provision of the elections of cooperative housing societies will be easier, said an officer.
The Cabinet approved to incorporate a separate chapter as Section 154 (b) in the MCSA to govern housing societies independently, separating them from profit-making cooperative societies such as sugarcane factories, credit societies and banks. The addition of the chapter also means the committee will have to make available documents related to the society, barring personal information, under the Right to Information Act. Failing to do so may or attract a fine of ₹25,000.
