Accountancy, asked by fccparvati, 6 months ago

day to day management of society vests by ​

Answers

Answered by nicolemiriamgeorge
0

Answer:

Management of a Housing Society in State of Maharashtra is regulated by Section 73 of Maharashtra Co-Operative Society Act (MCS Act) 1960. If you read the said section, you would mark that, it

(i) vests management of society in a committee formed in accordance with the Act, Rules & Bylaws

(ii) Confers power to exercise and imposes duty to perform.

(iii) Makes jointly and severally responsible for all the decisions, acts and omission that bearing on society

(iv) Mandates executing a bond by the member of committee. The act never talks about betraying the obligations that come along with the power

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