NEWS

Maharashtra: 'Rs 25,000 fine if housing society keeps documents from its members'

November 24, 2018

Mumbai: Every member of a housing society would be able to access all its records. If documents are not made available to a member, the committee would be made to pay Rs 25,000 fine.

Credits : magicbricks.com

Also, after a member's death, a nominee would become a provisional member who can contest elections to the managing committee but not sell the flat till the time the family's legal succession row is resolved.

These are some of the proposed amendments to the State Cooperative Societies Acttabled during the ongoing winter session of the state legislature.

Besides, associate members would not have their names on share certificates and not contest elections but would be able to perform duties on the owner's behalf. Any member not vacating a flat for redevelopment would have to compulsorily do so once majority owners agree to it. A member who is a real estate agent cannot contest elections or would be disqualified.

"Every member of the society shall be entitled to inspect free of cost, at the society's office during office hours or any time fixed for the purpose by the society, the copy of bye-laws, all the records, books of accounts and correspondences, excluding personal information of other members. The society shall furnish the documents requested by the member, maybe by charging fees as decided by the registrar, within a month’s time," stated the bill proposed by Cooperative Minister Subhash Deshmukh.

The proposed bill further stated that in case of an equality of votes, the chairman would have the casting vote in the society meeting. Associate members would have the right to vote with prior written consent of the member but would not have the right to contest the election to the committee.

The provisional member would have the right to vote. It pointed out that upon a member's death, the property share, right, title and interest would be transferred to a person or persons—nominee can be given provisional membership or act as a trustee —on the basis of testamentary documents, succession certificate, legal heirship certificate, or documents of family agreement executed by those entitled to inheritance.

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Source:https://magicbricks.com