Membership

Any one wants to get the services from The Amaravathi Muliti-Purpose Mutually Aided Co-Operative Society Ltd, she/he shall join as a Member.

The Amaravathi Muliti-Purpose Mutually Aided Co-Operative Society Ltd is not dealing with Non-Members.

How to become Member ?

ELIGIBILITY, INELIGIBILITY AND PROCEDURE FOR OBTAINING AND RETAINING MEMBERSHIP :

There are two Types of Membership

(A) A-Class Membership

(B) B-Class Membership/Associate Membership

(A) ELIGIBILITY FOR “A- CLASS MEMBERSHIP” AND THE PROCEDURE FOR ADMISSION :

1. Membership of the Society shall be open, voluntary and available without restrictions of any social, political, racial or religious discrimination to all persons who can make use the services of the Society and are willing to accept the responsibilities of membership for the benefit of the Society and shall reside in the area of operation of the Society.


2. Any individual who attained age of 18 (eighteen) years majority and is of sound mind and who is resident within the area of operations of the Society may apply to the Society for membership in the following manner.
   1. The application shall be in the form prescribed by the Society if any, or in the absence of prescribed form, on a plain paper detailing his data as desired / required by the Society.
   2. The individual shall also express his / her willingness in writing to accept the responsibilities of membership and to abide / fulfill such other conditions as may be specified in the Bye-Laws of the Society.
   3. The application shall be sent to the Chairman / Managing Director either by post or through his agent or personally.
   4. The person seeking admission shall furnish two recent passport size photographs, address cum photo identity proof along with the application for admission. He shall also pay the share capital suspense along with entrance fee.

Provided that no person shall claim the membership as a matter of right since admission is subject to the position of the Society to extend its services to the applicant. Provided further that no person shall be admitted as a member in the society, if the society is not in a position to extend its services to the applicant within the available means and within the reasonable time frame, in such case the application shall be returned to the applicant within 30 days from the date of such application.

Disqualifications

1. He / She is already a member of any other co-operative society registered under the A.P.C.S. Act 7 of 1964 or APMACS Act, 1995 providing same or similar services(s).


2. He / She has been sentenced for any offence involving moral turpitude; such sentence not having reversed for a period of three years has not elapsed from the date of expiration of the sentence.


3. He / She is an applicant to be adjudicated as an insolvent or in an un-discharged insolvent.


4. He / She has been expelled from the membership under the Act and the Bye-laws and a period of three years has not elapsed from the date of such expulsion.


5. He / She has resigned his membership and one year has not elapsed from the date of acceptance of such resignation.


6. He / She is a paid employee of the Society or its financing bank or of the Society / Organization of which it is the financing bank. Provided that where any person, who is ineligible for being admitted as a member has been admitted as member – or where a amber who is disqualified to continue as such by virtue of the provisions of the By-Laws, continues to be a member, he*she shall be removed by the Board of Directors or the General Body where the elected board does not exist for the time being

(B) ELIGIBILITY FOR B-CLASS MEMBERSHIP OR ASSOCIATE MEMBERSHIP AND THE PROCEDURE FOR ADMISSION:

1. Associate Membership may be granted to individual or a firm or a company subject to the conditions that:


2. The Individual or any partner of a partnership firm is not convicted of any criminal offences involving moral turpitude.


3. The individual or any person is not engaged in a business competing with or conflicting with the business of the Society.


4. The individual is not employee of the Society and individual has paid the required fee as prescribed by the Board, may be admitted as Associate Member.


5. Any person who is a Coparcener / Legal Heir / Minor or who desires to stand surety for a borrowing member of the Society or who desire to borrow occasionally for a temporary period against certain tangible securities such as Gold, Silver ornaments, Life Insurance Policies and Government Securities and other securities may be enrolled as a Assocoate Member upon his application in a prescribed form and shall allot One share on payment of Rs. 20/- and Entrance fee of Rs. 10/- (Total of Rs 30/- which the amounts of share & entrance fee are non-refundable).

(C) THE NOMINAL OR ASSOCIATE MEMBER SHALL NOT BE ENTITLED :

1. To attend, to participate and to vote in the General Meeting or a special General Meeting of the Society and


2. To receive dividend.

THE SHARE CAPITAL AND ENTRANCE FEE :

1. Every individual who is admitted as a member of the Society shall take minimum of one share subject to maximum of 1000 shares. The value of each share of ₹.100 shall be paid in one lump sum on allotment


2. Every member on admission shall pay an entrance fee of Rs.10/- (Rupees Ten Only) per share subject to a maximum of Rs.500/- (Rupees Five hundred only) in aggregate. The Entrance fee once paid will not be refunded.


3. This clause shall not apply to the Associate members.