Registered Office: Ajay Niwas, Gulab Bag, Karauli, Rajasthan Secretary: +91 99280 54064
Deposits & loans for members only · A registered co-operative society, not a bank
Become a Member

Membership

Membership is the foundation of the Society. Every account, deposit and loan facility is available exclusively to members, and every member has a voice in the General Body.

Eligibility

Who Can Become a Member

Membership is governed by the Rajasthan Co-operative Societies Act, 2001, the Rules, 2003 and bye-law 4 of the Society.

Adult and competent to contract

Applicants must be of full age and legally competent to enter into a contract.

Bye-law 4.2

Resident of the area of operation

Applicants must reside within Karauli, Dholpur, Bharatpur, Alwar, Sawai Madhopur, Dausa or Jaipur district.

Bye-laws 2, 4.2

Need for the Society's services

Applicants should require the Society's savings or credit services and be willing to discharge the obligations of membership.

Bye-law 4.2

Statutory eligibility

Applicants must be eligible under the Rajasthan Co-operative Societies Act, 2001 and the Rules, 2003. Persons who are insolvent, of unsound mind, convicted of an offence involving moral turpitude within the previous five years, or carrying on a business that competes with the Society are not eligible.

Bye-laws 4.1, 4.8
Process

How membership is granted

  1. 1

    Apply in the prescribed form

    Submit the membership application in the Society's prescribed form at the registered office or a branch.

  2. 2

    Pay the membership fee and share money

    Deposit the membership fee of ₹10 and purchase at least one share of ₹100. A member may hold shares up to one-fifth of the Society's share capital or ₹5 lakh, whichever is less.

  3. 3

    Sign the declaration

    Sign the declaration to abide by the Society's bye-laws and rules. Membership rights are exercisable only after the declaration is signed and the fee and share money are paid.

  4. 4

    Board approval and share certificate

    The Board of Directors admits members. A share certificate is issued within three months of approval and the member is recorded in the members' register.

  5. 5

    Record a nominee

    Every member gives in writing the name of a nominee to whom shares and money due can be paid or transferred.

Share capital & fees
Membership fee
₹10 (one-time), payable before admission
Minimum shareholding
At least one share of ₹100
Maximum shareholding
One-fifth of the Society's share capital or ₹5 lakh, whichever is less
Share certificate
Issued within three months of approval; duplicate available on affidavit and a fee of ₹10
Liability of a member
Limited to five times the value of shares held
Refund of shares
On withdrawal with two months' notice, subject to no outstanding loan or guarantee; refunds in any year are capped at 10% of total share capital
Source: bye-laws 4.3, 4.5, 5, 7.1–7.3

Documents to bring

  • Membership application in the Society's prescribed form
  • Membership fee (₹10) and share money (minimum one share of ₹100)
  • Signed declaration to abide by the bye-laws and rules
  • Two recent passport-size photographs (required at account opening)
  • Identity and address documents as prescribed by the Society office — please contact the office for the current checklist
Rights & Responsibilities

What Membership Means

Every right and duty below is drawn from the registered bye-laws.

Member rights

  • One member, one vote in the General Body — the final authority of the Society.Bye-laws 10.1, 14.2
  • Access to the Society's savings, deposit and loan facilities, which are available to members only.Bye-laws 3.2, 19.1
  • Eligibility for dividend on shares, up to 10% for shares held for the full year, as approved by the General Body and the Registrar.Bye-law 20.1
  • Right to nominate a person to receive shares and dues after death.Bye-laws 4.7, 7.4
  • Right to appeal to the General Body, and thereafter to the Registrar, if a membership application is rejected.Bye-law 4.11
  • Right to withdraw from membership with two months' notice, provided no loan or guarantee liability is outstanding.Bye-law 4.5
  • Limited liability — restricted to five times the value of shares held.Bye-law 5
  • Right to vote in Board elections if admitted at least 30 days before the election meeting.Bye-law 10.3.6

Member responsibilities

  • Attend General Body meetings; absence from three consecutive meetings without reasonable cause affects membership rights.Bye-laws 4.10, 10.3.5
  • Use the Society's services; non-use of minimum services for two consecutive years restricts membership rights.Bye-law 4.10.2
  • Repay loans on time; persistent default may lead to expulsion by the General Body.Bye-law 4.6.1
  • Act in good faith towards the Society; fraud, defamation or causing loss to the Society are grounds for expulsion.Bye-law 4.6.2
  • Do not hold membership of another co-operative society with similar objects.Bye-law 4.6.4
  • A borrower or guarantor remains a member until the liability is discharged.Bye-law 19.5
Member Benefits

What Members Have Access To

Savings and deposit schemes

Savings Account, short and long term deposits, growth schemes, a scheme for women members and a monthly income scheme.

Member credit

Loans for domestic, social and business needs and a loan facility against Monthly Income Scheme deposits, on Board-approved terms.

Passbook and free SMS alerts

A passbook for every account and SMS facility free of charge, as provided in the scheme rules.

Democratic ownership

One member, one vote; the right to elect the Board and to be heard in the General Body.

Share in the surplus

Dividend on shares as approved by the General Body and the Registrar, subject to the bye-laws.

Nomination facility

A nominee recorded for every member so that dues are settled without difficulty.

Membership Enquiry

Start with a conversation

Share your details and the Society office will guide you through the membership process, the schemes available to members and the documents to bring.

Call the Secretary

Membership is subject to the eligibility conditions in the Act and bye-laws and to the approval of the Board of Directors.

Membership Enquiry Form

Please provide basic contact details only. The Society will collect any documents it needs at the office.

Please do not share sensitive financial information such as account numbers, Aadhaar or PAN through this form. The Society will ask for any documents it needs at the office.