Working Capital: The funds at the disposal of any society including its paid up share capital, profits as well as other raised or borrowed money all come under the definition of working capital. Member: Any person joining the cooperative society as per the bye-laws and by submitting an application for registration is known as a member once accepted. Promoter: Promoter or builder is a person or set of persons who constructs or causes to be constructed a block or building of flats or apartments for the purpose of selling.Ĭommon Areas and Facilities: Common areas and facilities for all apartments include the land on which the building is located including its foundation, terraces, halls, corridors, stairs, fire escapes as well as all entrances and exits.

Parking Space: Parking Space means open space within the premises of the society earmarked by it for parking of vehicles and includes a stilt. Housing Society Federation: Housing Society Federation means the federation of co-operative housing societies, registered under the Act.

Definitions Used in the ActĪct: Act mentioned in the Maharashtra Co-operative Housing Society Bye Laws corresponds to the Maharashtra Co-operative Societies Act (MCS Act) of 1960.īye-Laws: Bye-laws mean the registered bye-laws of the society.Ĭhief Promoter: Chief Promoter means the person who is elected by the Promoters till the first general body meeting of the society takes place.Ĭommittee: Committee means the Committee of the members that look after the overall management of the affairs of the society.ĭays: Days mean the number of calendar days between the day of posting the notice and society meeting.įlat: Flat means any self contained set of premises used for residential or commercial purpose. Each housing society needs to follow the rules as listed in the Maharashtra Co-operative Housing Society Bye Laws to qualify as a registered housing society. Maharashtra Co-operative Housing Society Bye Laws acts in accordance with the rules drafted in the Maharashtra Co-operative Societies Act of 1960. Maharashtra Co-operative Housing Society Bye Laws offer a clear set of guidelines for management of cooperative housing societies in the state of Maharashtra.

Society bye laws in marathi pdf