The committee on receipt of a written notice for such meeting signed by such number of members of the co-operative society as may be prescribed in society’s by-laws and stating the objects and reasons for calling the meeting. If the committee fails to convene a meeting within 15 days of receiving the notice from the members, the members demanding the meeting may themselves convene the meeting by giving notice to the other members of the co-operative society stating the objects and reasons for the meeting and the fact that the committee has failed to convene the meeting. The Commissioner for Co-operative development, who may direct the matters to be discussed and who may preside at the meeting will not need a quorum There is no fixed number of special general meetings to be held in a year. the number will depend on the frequency at which urgent issues arise. As much as possible, all important matters should be properly planned for and addressed during the annual general meeting. Committee Meetings
In every registered co-operative society, members elect the committee to run the affairs of the society on their behalf. the committee should consist of five, seven or nine members. In order to carry out duties entrusted by the general meetings, the committee members hold regular meetings. the frequency of the committee meetings depends on the business of the society, but they should normally be held monthly and at least quarterly. the discussions during the meetings include: • to consider and confirm the minutes of the previous meetings. • to discuss and check the accounts of the society (liquidity position). • to receive and discuss various reports of the society (includes activity and sub committee reports). • to discuss the financial obligations of the society (creditors and other commitments). • to discuss any other matters that affects the running of the business of the society. • to discuss membership growth, withdrawal, staff matters • to discuss product and services development • to discuss loan delinquency management among other things Sub-committees – When the committee finds that some matters need more detailed work and reports, sub- committees are elected from among the elected members of the committee. Such committees have only delegated powers and have to report back to the main committee on their work. The number of sub-committees and the frequency of sub-committee meetings is dictated by the volume and nature of business. All meetings should have meeting schedules prepared and approved by the full board. this will assist in proper planning and budget allocation. Sub-committees should normally meet earlier and then present their reports to the full committee meeting for adoption and discussion.
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- Summer '15
- Law, Cooperative, Co-operative Law In Kenya, Sacco Society, SACCO SOCIETY LTD