43. Disqualifications for being a member of board.-(1) No member of any multi-State co-operative society or nominee of a member, society or a national co-operative society shall be eligible for being chosen as, or for being, a member of the board of such multi-State co-operative society or a national co-operative society, or of any other co-operative society to which the multi-State co-operative society is affiliated, if such member- (a) has been adjudged by a competent court to be insolvent or of unsound mind; (b) is concerned or participates in the profits of any contract with the society; (c) has been convicted for an offence involving moral turpitude; (d) holds any office or place of profit under the society: Provided that the Chief Executive or such full-time employee of the society as may be notified by the Central Government from time to time or a person elected by the employees of such society to represent them on the board of such society shall be eligible for being chosen as, or for being, a member of such board; (e) has been a member of the society for less than twelve months immediately preceding the date of such election or appointment; (f) has interest in any business of the kind carried on by the society of which he is a member; (g) has taken loan or goods on credit from the society of which he is a member, or is otherwise indebted to such society and after the receipt of a notice of default issued to him by such society, has defaulted- (i) in repayment of such loan or debt or in payment of the price of the goods taken on credit, as the case may be, within the date fixed for such repayment or payment or where such date is extended, which in no case shall exceed six months, within the date so extended, or (ii) when such loan or debt or the price of goods taken on credit is to be paid in instalments, in payment of any instalment, and the amount in default or any part thereof has remained unpaid on the expiry of six months from the date of such default: Provided that a member of the board who has ceased to hold office as such under this clause shall not be eligible, for a period of one year, from the date on which he ceased to hold office, for re-election as a member of the board of the multi-State co-operative society of which he was a member or for the election to the board of any other multi-State co-operative society; (h) is a person against whom any amount due under a decree, decision or order is pending recovery under this Act; (i) is retained or employed as a legal practitioner on behalf of or against the multi-State co-operative society, or on behalf of or against any other multi-State co-operative society which is a member of the former society. Explanation.-For the purposes of this clause, ''legal practitioner'' has the same meaning as in clause (i) of sub-section (1) of section 2 of the Advocates Act, 1961 (25 of 1961); (j) has been convicted for any offence under this Act; (k) is disqualified for being a member under section 29; (l) has been expelled as a member under section 30; (m) absents himself from three consecutive board meetings and such absence has not been condoned to by the board; (n) absents himself from three consecutive general body meetings and such absence has not been condoned by the members in the general body. (2) A person shall not be eligible for being elected as member of board of a multi-State co-operative society for a period of five years if the board of such multi-State co-operative society fails- (a) to conduct elections of the board under section 45; or (b) to call the annual general meeting under section 39; or (c) to prepare the financial statement and present the same in the annual general meeting.
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