(19) To sanction loans up to rs.

5000 against
pledge of approval securities excluding
immovable property. he shall , however ,place a
statement of such loans sanctioned before the
next meeting of the board of directors.

41.Loan and advanced

(1) Loans , cash credits and /or overdraft on
current acconts may be granted to members on
security or securities mention below or other
security or securities subject to the directive
issue by the reserve bank of india from time to
time relating to the loan and advanced of the
bank , approved by the board of directer or
without security.

(1) personal securityand/or surety/sureties of

other member/members .

(2) collatoral securityof movable and immovable

property.

(3) industrial , mercantile, agricultural and other

marketable commodities of machinery under
pledge, hypothecation or charge of the Bank.
(4)Pledge of goverment , trustee securities ,
share of approved companies debenture ,and
fixed deposit with the Bank.

(5)Insurance policies as aged to the Bank within

the surrender value .

(6)warchouse receipts .

(7) gold and silver ornaments.

(8) Any other tangible security.

(9) The board may frame detailed loan

regulation prescribing proporation of unsecured
loan to total loans and advances,proper terms
and conditions and the nature of securities
acceptable for loan and advanced for different
purposes.

(2) short -term loans will be for periods up to

months medium-term loans for 15months to 5
months to the long-term loans over 5 years.

page- 18

37.All acts done in good faith by the board of

directors or any person acting as a
member of the board shall nothwithstanding that
it is afterwards discovered that there was some
defect in the appiontment of such board of
person be as valid as if tha board of every such
person has been duly appointed.

(38)MINUTES:

The minutes of the meeting of the board of

directors , the committees or sub-committees
shall be recorded in the minutes book , the page
of which shall be duly numbered . the minutes
shall be signed by the chairman of the meeting
and the chief executive officer of the bank .

(39).CHAIRMAN:

The power and duties of the chairman shall

be as under:
(1)To preside over the genral meeting
,meeting of the board of directors sub-
committee meeting and meetings of any other
committee

(2) To supervise the general working of the

Bank.

40.CHIEF EXECUTIVEOFFICER:
 The powers and duties of chief executive
officer who will be responsible to the board of
directors , will be as under :

(1) The take section on the resolution and

decisions taken by the general body and boardof
directors.

(2) To convene the meeting of the general

body , board of directors , sub-committees , staff
committee or any other committee and to attend
and to record the minutes of all meetings in the
minutes book and to countersing the same along
with the chairman of the meeting .

(3) To conduct correspondence on behalf of the

Bank .

(4) To maintain all book of account , registers ,

and ledgers as may have been prescribed under
the co-operative sociaties Act ,rules and by-
laws.

-: 15 :-
36. POWERS OF THE BOARD OF
DIRRECTORS :
 (1) 70 consider application for membership
allotment, transfer of share and regination

(2) To raise with or with out security,

lease,overdraft
and cash credits with in the maximum
lemits of borrowing
fixed by the general body of Bank,and to
approve the
terms and conditions of such borrowings.

(3) To approve the annual balance

sheet,statement of profit
and loss account and other statement for
being placed
before the members at the annual genearl
meeting.

(4) To consider applications for loans and

advances and discounting
of bills and to determine the terms and
conditions their of.

(5) To enter into participation arrangements

with any commercial
or co-operative Bank and financial
corporation for the purposes
 of loans and advances and to determine
the terms and conditions
of participation this power shall not be
delegated to any committee
office - bearer or officer.

(6) To consider cases of arrears of and

defaults of loans,
over drafts,advances and cash credits due
from constituent
and approved the action to be taken for
recovery of the same.

(7) To consider the proposal to modify, alter,

delete and add
to the terms and conditions governing the
out standing
loans,overdrafts,cash credits and
advances due from constitutent.

(8) To approve investment of money

belonging to the Bank
in goverment and other trustee
securities,deposites and
other approved securities.

(9) To approve purchase, sale and/or pledge

of goverment
 and other trustee securities and other
approved securities
on behalf of the bank and to delegate
jointly to any one .

contd.....P/13

-: 13 :-

not more than one - third or three directors

on the
board of directors of the bank which ever
number is less.

(3) in additions to ellected and nominated

directors, the
Borad of directors any,if it so desires, co-
operative
more than to directors from among persons
conected
with small-scale and cottage industries
economists
financial and banking experts, experienced
co-operators
 residing in the area of opperation of the
bank,
such directors, how ever , shall not be
entitled to vote at
the meeting of the board of directors.

(4) At end of the each co-operative entire

managing committee
shall retire from the office.

(5) A retiring directors shall be eligible for a re-

election
provided he has not been office bearer for
too conjuncture
co-operative year.

(6) The expert directors as referred to in clause

(111)
above may be co-opted evrey year.

30. CHAIR MAN AND VICE CHAIR MAN

OF THE BOARD OF DIRECTORS :

(1) The Board of Directors at its first meeting

after the
annual general meeting shall elect a chair
man and
 vice chair man for the year from among the
elected
directors. this meeting shall be held with in
thirty
days from the date of the annual general
meeting.
the chair man shall preside over all meeting
of the
Board and also ever the annual general
body meeting
and special general meeting when such
meetings are
called for.In the absence of the chair
man,the vice chair man
shall preside over the meetings and in the
absence of
both the chair man and the vice chair man
the directors shall
elect the chair man for that meeting from
among those
present.

(2) The chair man of a meeting shall have a

casting vote.

(3) The chair man and vice - chair man shall

hold office
 for one year. the shall be eligible for re -
election.
contd .....
P/14.