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BY-LAWS OF UNITED NATIONS
CO-OPERATIVE SAVINGS & CREDIT SOCIETY
LIMITED
1. Name and Area of Operation
This Society shall be called UNITED NATIONS CO-OPERATIVE SAVINGS &
CREDIT SOCIETY LIMITED , hereinafter referred to in these By-laws as “the
Society” and its area of operation shall be within the Republic of Kenya.
2. Registered Office and Postal Address
The registered office of the Society shall be situated at United Nations Complex,
Nairobi and its postal address shall be P.O. Box 30552, Nairobi. Any change of
address of the Society shall be furnished to the Registrar of Co-operative
Societies and to the members of the Society.
3. Definitions and Interpretations
a) In these By-laws, unless the context otherwise requires, words or phrases shall
be defined/interpreted in accordance with the Co-operative Societies Act, of
1997 and the Co-operative Societies Rules 1998 made there under, hereinafter
referred to as “the Act” and “the Rules” respectively and which term shall
include their subsequent amendments.
b) “Registrar” means the Registrar of Co-operative Societies
c) “SACCO” means Savings and Credit Co-operative Society Limited
d) “Tribunal” means the Co-operative Tribunal established under section 77 of the
Act to hear and determine disputes under the Act and Rules.
e) “Commissioner” means the Commissioner for Co-operative Development
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f) “Institutional Capital” means and comprises statutory reserves, entrance fees,
appropriation accumulated account and any other reserve established by the
Society’s committee for which there is no claim.
g) “Users” in the SACCO shall mean groups and other co-operatives who may
from time to time carry out some business with the Society.
h) “Minors” shall mean persons who are not up to 18 years of age but who benefit
from some of the services of the Society.
i) Required amount (Provisions for loan losses) - The required amount is the
amount, which is to be set aside as a contra asset, and is intended to be a
provision for potential loan losses. The amount of the provision is based on the
following formula: 15% of loan balance and have one to three payments in
arrears; 35% of loan balance where the loans have four to six payments in
arrears; 50% of loan balances where the loans have seven to twelve payments in
arrears, and 100% of loan balances where the loans have payments in arrears in
excess of twelve months.
j) “Members of the immediate family” when used in these By-laws, includes, but
is not limited to the spouse, parents and children of each person eligible to be a
member of the Society whether or not residing in the same household. The same
term includes any other relative of any person or of the spouse of the eligible
person if the person resides in the same household as the person.
k) Any questions or dispute concerning the interpretation of these By-laws on any
matters not provided for therein, errors and omissions shall be referred to the
Tribunal
l) Words importing the masculine gender only include also the feminine gender.
4. Objects
The objects for which the Society is established are:-
a). To encourage thrift among its members by affording them an opportunity for
accumulating their savings;
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b). To create a source of funds at a fair and reasonable rate of interest;
c). To provide an opportunity for each of its members to improve the members
respective economic and social conditions;
d). To provide members with credit for purposes of providence or production or
both;
e). To offer to the members complementary savings and credit services and other
financial products as may be required by the members from time to time;
f). To ensure safety and soundness of the member’s funds through a Risk
Management Programme or appropriate insurance coverage;
g). To ensure the progress of its members by educating them continuously on the
proper use of credit; and
h). To perform the function and exercise the powers designated for savings and
credit co-operative societies under the applicable law for the benefit of the
members.
For the attainment of the above objects, the Society may do all acts and things
that are permissible under the Act, the Rules and these By-laws provided that
members at General Meetings approve such acts or things either specifically or
generally.
5. Co-operative Principles
In order to achieve the objects for which it is established, the Society shall
practice the following co-operative principles:-
a). Voluntary and open membership;
b). Democratic member control;
c). Economic participation by members;
d). Autonomy and independence;
e). Education, training and information;
f). Co-operation among co-operatives; and
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g). Concern for community in general.
6. Membership in the National and International Associations
a). The Society may become a member of the Kenya Union of Savings and Credit
Co-operatives, the Kenya National Federation of Co-operatives or any other
national or international organisation approved by the Annual General Meeting.
b). The Society recognises the fact that such membership is vital for the safety of its
transactions and in the interest of its members
7. Membership Eligibility
A person of either sex shall be eligible for membership if he/she :-
a). Is within the field of membership, that is, within the common bond; “Common
Bond” shall mean any unifying factors that brings the members together. In this
context it shall include all employees of the United Nations and other diplomatic
missions and International Organisations in Kenya.
b). Is not less than eighteen years of age, if a natural person;
c). Is not a member of another urban SACCO in the country;
d). Is not directly or indirectly, a money lender, cash daily collector or carrying out
such activities detrimental to the objectives of the Society;
e). Is of good character;
f). Is an employee of the Society or a subsidiary of the Society;
g).Is resident within or occupies land within the Society area of operation;
h). Is in employment, occupation or profession which falls within the category
or description of those for which the Society is established; and
i). Is a member of the immediate family of the primary member.
8. Membership Composition
a). The membership of the Society shall consist of:-
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(i). Original members who signed the application for registration; and
(ii). New members subsequently admitted in accordance with these By-laws
b). The rights of members of the Society shall be determined and exercised in
accordance with the applicable law, the By-laws of the Society and valid
resolutions of the Management Committee.
c). Any employee of the Society, and any member of the immediate family of any
other eligible person may become a member of the Society in the manner
provided in these By-laws, provided that-
(i). Users shall buy shares, make savings and /or deposits but shall not
participate in the management of the Society.
(ii). Minors shall make savings and/or deposits but will not
borrow or guarantee others, nor shall they participate in the
management of the Society.
9. Membership Application Form
Every applicant for membership shall complete an application for membership
form in the form of Appendix A of these By-laws.
10. Admission into Membership
An applicant shall be admitted to membership on being accepted by a simple
majority vote of the Management Committee, but shall not qualify for the
rights and privileges of membership until he/she has paid an entrance fee of
Kshs 500.00 and paid in full at least Kshs 1,000.00 as shares and a minimum
monthly deposit of Kshs 1,000.00 or as stipulated by the Management
Committee. A member is also required to submit 2 passport size photos and a
copy of the National Identity Card or any other authenticated identity. The
completed form, when filed in serial order, shall constitute the Register of
members as required under the Act. Upon admission to membership the
Secretary shall cause the name and relevant particulars of qualified applicant to
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be entered in the register of members.
11. Member Number
A number shall be assigned to each member as a means of identifying his/her
account with the Society.
12. Refusal of Membership
The Management Committee may refuse membership to any applicant giving
him/her reasons for the refusal in writing, provided that the person whose
membership has been refused, if aggrieved by that decision, shall have the right
to appeal to the next General Meeting through a registered member. The
decision of the General Meeting on the matter shall be final.
13. Membership Rights
Subject to these By-laws, policies, standards, values and procedures, every
member shall have the right to use the Society’s services and exercise the rights
established by the Act, the Rules and By-laws. The members are entitled but
not limited to:-
a). Receive, periodically and regularly, or upon request, and at least once a year, a
Statement of Accounts containing the individualised record of his/her credit and
debit transactions
b). Attend and participate at a General Meeting. Each member shall have one vote
irrespective of the member’s total share holding.
c). Elect or be elected as officer of the Society unless otherwise prohibited by any
other law or these By-laws;
d). Use the Society’s services according to the policies and procedures approved by
the Management Committee;
e). Submit projects to the Management Committee for consideration for the
improvement of the Society’s services; and
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f). All other rights as prescribed by the Act and the Rules
14. Members Obligations
In complement to the Act, members of the Society are obliged to;-
a). Attend meetings and take part in decision making;
b). Show good co-operative spirit;
c). Inform non-members of the Society’s activities and encourage them to join;
d). Bring out problems affecting the Society and look for solutions;
e). Participate in the Society’s projects both physically and financially;
f). Attend educational meetings and seminars organised by the Society or other
organisations approved by the Management Committee;
(g) Make use of the services of the Society as stated in the objects of the Society;
and
h). Comply with these By-laws, the Act, Rules and General Meeting Resolutions
15. Member Personal Account
a). Every member shall receive a Member’s Personal Account (M.P.A), which shall
contain full particulars such as name, the Society membership number and
Identification (I.D) number. A member’s Statement of Account showing the
member’s savings balance, names and I.D number signed by a duly authorised
officer of the Society shall be conclusive evidence that the person named therein
is a customer of the Society and shall constitute a certificate of savings, unless it
is proved otherwise. If such a book is lost, issuance of a duplicate may be
authorised by the Management Committee upon payment of a fee as the
Management Committee may decide.
b). For payment of members’ shares and deposits and for loan repayments, the
Management Committee may direct that a periodic “Statement of Account”
containing a record of the members’ transaction with the Society, in the same
form as a pass card, shall be used instead of the Pass Book. Such Statement of
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Account shall be sent to every member not less frequently than once every six
months. When the Statement of Account is used, every member shall be issued
with a membership identification card. Provided that this procedure shall apply
whether the member pays by “check-off” or any other method approved by the
Management Committee.
16. Penalties
a). Any member who willfully acts in violation of these By-laws or regulations
made thereunder shall be liable to a fine not exceeding five thousand shillings
not withstanding any other action that may be taken against him in accordance
with the Act, Rules, these By-laws or any other law.
b). The Management Committee of the Society shall have powers to hear and
determine matters relating to any alleged violation of these By-laws by a
member.
Any member aggrieved by the decision of the Management Committee may
appeal to the Annual General Meeting whose decision shall be final provided
this provision should not prejudice a members right to refer the matter to the
Tribunal, if the issue constitutes a dispute.
17. Spouse, Family Members and Employees
Subject to the regulations under these By-laws, a spouse, family members and
employees may also become members of the Society under the same terms and
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conditions as other members.
18. Nominees
Every member may nominate in writing one or more persons in order of
priority to whom upon his/her death, his/her shares deposits or any other
interest may be transferred. Appointment of a nominee by a member shall be
in writing and signed by the member in the presence of two attesting witnesses.
Such particulars of the nominee(s) shall be recorded and kept in a sealed
envelope to be safely kept in the custody of the Secretary and whose
particulars shall be entered in the register of members. A member may at any
time change his nominee provided such change or alteration is in writing and
signed by the member in the presence of two attesting witnesses.
19. Payment to Un-admitted Nominee
If not admitted to membership, the nominee may be paid the value of the
deceased members shares or interest, less any sums due by the latter to the
Society within 60 days upon receiving official notice of the death of the
member. The nominee may also receive payments from Risk Management or
any approved insuring programme.
20. Voluntary Withdrawal
Members with no liability or outstanding obligations on their accounts and no
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outstanding collaterals or guarantees for other members’ loans may withdraw
from membership at any time, without losing vested rights.
In spite of losing their status as members, individuals who have withdrawn
from membership but still have outstanding loan balances or outstanding
guarantees for other members’ loans, shall continue being responsible for their
respective obligations unless alternative arrangement, acceptable to the Society
is made.
21. Notice of Voluntary Withdrawal
A member may at any time withdraw from the Society by giving 60 days’
written notice to the Society during which time the Society will settle the
member’s accounts and refund the members shares if he/she has no outstanding
liability with the Society.
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22. Cessation of Membership
Membership in the Society shall be terminated upon:-
a). Voluntary resignation by the member;
b). The death of the member;
c). Expulsion from membership;
d). Becoming certifiably insane;
e). Acting contrary to the relevant provisions of the Act, Rules and By-laws;
f). By vote of the membership at the next ensuing General Meeting following
suspension of a member by the Management Committee for any violation of
these By-laws or conduct prejudicial to the Society’s interest; and
g). Withdrawing all his shareholdings
23. Suspension and Expulsion
The Management Committee may suspend a member subject to ratification or
otherwise by the General Meeting if the member: -
a). Willfully fails to comply or refuses to comply with the Society’s By-laws,
policies and contracts and persists in such refusal or failure;
b). Willfully defaults in the repayment of loans due or part of loans due for a period
exceeding six months;
c). Fails to save regularly. In this case one is deemed a regular saver when he saves
at least 6 times in a financial year;
d). Acts in any way detrimental or prejudicial to the Society’s interests or for other
just cause;
e). Is convicted in court of a criminal offence involving dishonesty or imprisoned
for any other offence for three months or more; and
f). For any other reason approved by the Annual General Meeting and/or as may be
contained in the Society’s Code of Ethics.
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24. Suspension and Expulsion Procedure
a). Upon formal and written announcement and proof that a member has committed
a violation punishable by expulsion, the Management Committee shall provide
written notice to the member stating the reason/s for the proposed expulsion, and
grant the member 30 days for the member to prepare a defence if any;
b). Upon expiry of the 30 days and taking into consideration the member’s defence,
the Management Committee shall initiate an administrative inquiry and take a
decision on its findings within 15 days.
c). A member so suspended by the Management Committee subject to ratification
of expulsion by the General Meeting shall have the right to appeal at the next
Annual General Meeting provided the notice and grounds of such appeal have
been filed with the Honorary Secretary not less than 30 days before the date of
the meeting. The decision of the General Meeting on such expulsion shall be
final.
25. Payments Resulting from Withdrawal, Termination or
Expulsion from Membership
a). Withdrawal, expulsion, or termination of membership will not exonerate a
member from any existing personal or membership liability
b). A member who withdraws or is expelled shall be repaid the following amounts
after deduction of any debts owed by him/her to the Society as borrower,
endorser, guarantor or otherwise:-
(i). the nominal or book value of shares, whichever is less; provided
however, that the Management Committee may require a maximum of 60
day’s written notice of intention to withdraw shares
(ii). any dividends or interest due to him on the date membership ceased; and;
(iii).any deposits or other sums held by the Society on the member’s
behalf.
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c). Members who voluntarily withdraw may re-apply for admission. In such
circumstances, the entrance fees will be doubled and a fine of Kshs. 2,000.00
levied if the application is approved.
26. Society Funds
The funds of the Society shall consists of ;-
a). Entrance fee of Kshs. 500.00 each or as may be determined from time to time by
the Management Committee;
b). An unlimited number of unwithdrawable but transferable shares to the value of
Kshs 100.00 each. Each member shall purchase a minimum of 50 shares or as
may be determined from time to time by the Management Committee;
c). Deposits or loans from members or non-members;
d). A reserve fund as required by law and such other reserves as may be established
with the approval of the Management Committee;
e). Any donations, grants or gifts from other bodies organisations or individuals;
f). Any surplus resulting from operations of the Society;
g). Deposit Protection Funds; and
h). Funds obtained from other lawful miscellaneous sources.
27. Application of Funds
The funds of the Society shall be applied for the promotion of the stated objects
and purposes of the Society as set forth in these By-laws and as determined or
approved by the General Meeting of the members.
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28. Shares
a). The nominal value of each share shall be KShs. 100.00 and every member shall
hold at least fifty shares in the Society, but no member shall hold more than one
fifth of the total share capital of the Society.
b). The Management Committee may fix a minimum amount that may be paid
towards the purchase of shares by a member at any one time.
c). With the approval of the Management Committee, a member may at any time
transfer his shares to another member. Such transfers must be in writing.
d). All transfers of shares must be registered with the Manager, and no transfer shall
be valid unless so registered. A fee of Kshs. 1000.00 or as may be determined
by the Management Committee from time to time shall be paid to the Society by
the transferee.
e) The Management Comittee shall have the right at any time to require members
to give 60 days written notice of intention to withdraw shares.
29. Liability of Members
a). The liability of a member shall be limited to the nominal value of the shares held
by the member
b). In the event of liquidation, where available funds are insufficient to pay the full
nominal value of the shares held by the members, the funds shall be distributed
pro rata among the shareholders according to the amount of shares held by each.
30. Deposits
a). Deposits to the Society made by a member through the Back Office Operations
shall not be withdrawable in whole or in part unless on resignation of a member.
b). Deposits made to the Society’s Front Office Service Operations shall be
withdrawable according to the terms and conditions as provided by the
Management Committee.
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31. Power to Borrow
a). Loans may be obtained from members and non-members, subject to the
maximum approved by the Annual General Meeting, provided the amount does
not exceed 20% of the total assets
b). For the necessary security of any loans accepted by the Society under paragraph
(a) above, the Society may grant a charge over the assets of the Society. The
authority to grant a charge shall be reserved to the General Meeting.
32. Receipting for Money
a). Money paid in or out on account of shares, deposits, loans, interest, fees, or fines
shall be evidenced by an entry in the members personal Account or issuance of
an official receipt in the name of the Society.
b). Should the Member Personal Account or other receipt given to the member by
the Society be lost or destroyed, immediate notice of such fact shall be given by
the member to the Manager who may authorise for issue of a duplicate Member
Personal Account or a duplicate receipt.
c). The Manager may require the member to sign an indemnity to protect the
Society against any loss due to the issuance of such duplicate. The Manager
may also require payment to the Society of a reasonable charge to cover the cost
of issuing the duplicate Member Personal Account provided the amount charged
shall be determined by the Management Committee from time to time.
33. Liquidity and Reserves
a). The Society shall maintain a Reserve Fund as required by the Act and Rules.
The Reserve Fund shall be credited with at least 25% of the net surplus of each
financial year. It shall also be credited with all entrance fees, and with
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recoveries of loans and other losses previously charged against the Reserve
Fund.
b). The Society shall maintain liquid funds equal to 10% of the total assets. Liquid
funds are cash and deposits with a maturity of not more than 91 days. The
Management Committee may increase liquidity from time to time to meet
seasonal demands as they might arise.
c). Capital Reserve shall be held by the Society to fund the growth and to meet
operational losses not related to loans. Capital Reserve may not be distributed to
members except in the case of dissolution of the Society and after all of the
losses have been provided for.
34. General Meeting
The Supreme Authority of the Society shall vest in the General Meeting. Such
meetings shall be held as follows:-
a). The Annual General Meeting shall be held within 120 days of the close of the
financial year to hold elections and to undertake such other business as laid
down in these By-laws;
b). Any business not completed at the Annual General Meetings, such as acting
upon the auditor’s report (if not received by the time of the meeting), may be
taken up at a subsequent Special General Meeting, or at the next Annual
General Meeting;
c). A Special General Meeting shall be held;-
(i).When convened by the Management Committee or the Registrar in
accordance with Rule 25(1)
(ii).Within 14 days of receipt of a written demand from at least 400 or one
fifth of the members whichever is the lesser.
35. Notice of Special or Annual General Meeting
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a). Except as noted above, at least fifteen clear days notice shall be given in the case
of an Annual General Meeting or a Special General Meeting. The Manager shall
take all possible and usual steps, such as announcements at public meetings,
posting a notice on the Society’s notice board, placing an advertisement in the
local newspaper or news-sheet, to inform all members of the date, venue and
main business of the meeting. All written notices shall include a Statement of
the business to be dealt with.
b). The notice of the Special General Meeting shall clearly specify all the issues to
be discussed. The Special General Meeting shall deal exclusively with the
issues for which it is convened
c). An Annual General Meeting or a Special General Meeting of members,
convened solely for this purpose, shall have the exclusive power to amend the
Society’s By-laws.
d). All meetings of members shall be conducted according to the procedures and
rules of order approved by the Management Committee
36. Quorum
Except when convened by the Registrar, the presence of at least 1/4 of the total
number of members or 500 members, whichever is less, shall constitute a
Quorum for the conduct of business at a General Meeting. When a Quorum is
not attained, the Chairman shall adjourn the meeting, which shall be advertised
as prescribed in By-law 34. If at such a meeting, a quorum is again not
attained, the Chairman shall declare the meeting open with those present, one-
half hour after the appointed time of the meeting.
37. Required Majority
a). The motion to revoke a policy decision taken by the Management Committee, or
to remove a committee member from office must be seconded by a minimum of
one quarter of the members attending the meeting.
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b). Amendments of these By-laws shall be approved by a vote of two-thirds
majority of the members present at the meeting.
c). Any other motion shall be approved by simple majority of votes.
38. Enforcement of the Decisions
Any decisions taken at the meetings aforesaid shall be binding on all members
present, absent and objecting. However, members may exercise their
rights of objection and separation about decisions related to the Society’s
conversion into a different organisation or merger.
39. Chairman at Meetings
The Chairman, or in his absence, the Vice-Chairman shall preside at every
General Meeting. In their absence, any committee member elected by a
majority of those present shall preside failing which any member elected by a
majority of those present shall preside.
40. Identification of Members
Before any member may attend or vote at a General Meeting, he/she shall be
required to produce a pass, card, or some evidence of membership or
identify himself/herself in a satisfactory manner.
41. Powers of the General Meeting
The General Meeting of members has both the right and responsibility to:-
a). Confirm the minutes of the previous meetings;
b). Elect officers for the ensuing year;
c). Consider and decide upon the maximum borrowing powers
of the Society
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d). Consider and approve estimates of Income and Expenditure for the ensuing
Financial Year or part thereof;
e). Appoint the Society’s Bankers, Advocates and Auditors;
f). Receive reports and decide upon other matters as may be necessary for the
conduct of the Society’s business;
g). Consider the Statements of account, the auditor’s report and the reports of
the committees on the activities of the Society during the past financial
year;
h). Confirm or otherwise consider action taken by the committees, and give
direction(s) to the new committees where necessary;
i). Consider appeals against the expulsion of members and refusals of
membership by the Management Committee;
j). Elect, suspend or remove members of the Management Committee and the
Supervisory Committee provided that proper notice and the purpose of the
meeting has been given in advance;
k). Fix the maximum liability which the Society may incur in loans but not to
exceed 20% of the total assets;
l). Fix the honoraria, bonuses and other allowances if any, for officers or the
employees;
m). Receive, deliberate and make decisions on the Registrar’s reports; and
n). Transact any other general business of the Society of which notice has
been given to the members in the manner prescribed in these By-laws
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42. Minutes
All business discussed at a General Meeting shall be recorded in a Minute Book
which, within one week of the meeting, shall be signed by the Chairman of the
meeting and at least one other committee member who was present at the
meeting to verify that in their opinion the minutes are a true and complete record
of all important matters which were discussed or decided at the meeting. At the
next meeting, after approving any alterations or variations, which shall be
written immediately below the above signatures, and not as alterations to the
original record, the meeting shall, by resolution, authorise its Chairman to sign
and date the final record.
43. Management Committee
The Management Committee shall be elected by and from the membership and
shall consist of a minimum of five and not more than Nine.
All committee members shall be at least 21 years of age. The Executive
Committee shall include the Chairman, Vice-chairman, Treasurer and Honorary
Secretary, all of whom shall be elected from amongst the members of the
Management Committee.
44. Eligibility as a Management Committee Member
a). No member shall be eligible as a Management Committee member unless he has
been a member of the Society for the immediate 2 years preceding the Annual
General Meeting in which he seeks to be elected.
b). Subject to the provisions of the Rules, the regular term shall be fixed at three
years. Any increase or decrease in the Management Committee’s membership
shall be authorised by the members at a General Meeting. Approximately each
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regular term shall expire at each Annual General Meeting, that is, 1/3 of the
members retiring every year shall be eligible for re-election.
c). No one shall be eligible to be elected to the Management Committee if he/she: -
(i). is delinquent
(ii). is below 21 years of age
(iii). is of unsound mind
(iv). is a member of any other society of similar nature
(v) does not have deposits in the Society equal to or more than Kshs.
200,000.00
(vi) has not attained a minimum of Ordinary Level of education
or its recognised equivalent.
(vii) does not conform to minimum qualification standards
established by the Management Committee from time to time.
d). If a member of the Management Committee fails to attend three consecutive
meetings without being excused therefrom, or otherwise fails to perform his
duties, his position may be declared vacant and the vacancy filed as provided in
these By-laws.
e) Where a member of the Management Committee is out of station for a period
exceeding 6 months and is therefore unable to perform his duties, his position
may be declared vacant and the vacancy filed as provided by these By-laws.
45. Functions And Responsibilities Of the Management
Committee
The Management Committee shall be the Governing Authority and subject to
any directions from a General Meeting, it shall direct the affairs of the Society.
Its procedure, powers and duties shall be as prescribed in the Act and Rules,
and in particular, it shall: -
a). Observe in all its activities the Act, the Rules and these By-law;
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b). Generally direct and monitor the affairs of the Society;
c). Act upon all applications for membership unless a membership officer is
appointed to do so;
d). Ensure that true and accurate records and accounts are kept of the Society’s
money, and its properties, capital reserves, liabilities, income and expenses;
e). Decide the amount and kind of surety bond, or other security, which shall be
required of the Management Committee, Manager and any other officer or
employee having the custody of, or handling funds or property of the Society;
f). Draft or cause to be drafted the internal regulations which shall include all
matters which have not been taken care of or provided for in the Act, Rules and
these By-laws which call for specific enactments to ensure smooth functioning
of the Society;
g). Determine from time to time the interest rates on loans, the maximum maturities
and terms of payment or amortisation of loans to members and the maximum
amounts that may be loaned with or without security to any member
h). Lay before the General Meeting an audited financial statement and budget for
the following year.
j). Fill vacancies occurring in the Management Committee, the Credit Committee,
Education Committee, Executive Commitee, Society’s Savings Committee, any
other Sub-committee and the Supervisory Committee between Annual General
Meetings;
k). Authorise investments of the Society and the conveyance of property;
l). Authorize borrowing and lending operations of the Society in accordance with
the Act and Rules;
m). Designate a depository, or depositories, for the funds of the Society;
n). Submit proposals to the General Meetings and providing information necessary
to enable the members deliberate and take actions;
o). Employ staff and terminate them if necessary;
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p). Assisting persons empowered to audit the accounts and supervise the operations
of the Society;
q). Employ and fix the remuneration of a Manager and ensure availability of
appropriate terms and conditions of service, job descriptions and
specifications;
r). Impose fines;
s). Approve transfer of shares between members;
t). Determine the interest rates which shall be paid on deposits;
u). Review monthly delinquency reports and supervise the collection of loans
to members and authorize the write-offs of uncollectible accounts;
v). Affiliate and maintain liaison with national or international organisations or
any other apex body approved by the General Meeting;
w). Make capital expenditures;
x). Offer new services and pricing policies and set appropriate policies and
ensure implementation;
y). Report to the Annual General Meeting on their activities and actions; and
z). Perform such other duties as are necessary to preserve the sound management of
the Society and authorize any action consistent with the Act, Rules and these
By-laws, unless specifically reserved for the General Meeting.
46. Reasonable Duty and Care
In the conduct of the affairs of the Society the members of the Management
Committee shall exercise due prudence and diligence in the course of the
Society’s business failing which they shall be held, jointly and severally liable
for any losses sustained through any of their acts which are contrary to the Act,
Rules and the By-laws of the Society or the directions of any General Meetings.
47. Delegation of Duties
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a). The Management Committee may delegate in writing to an officer or employee
of the Society such of its duties as it deems necessary
b). Nothing in (a) above shall absolve the Management Committee from its
responsibility of running the affairs of the Society in proper and business like
manner. The Management Committee must ensure that it has full control of the
affairs of the Society.
48. Records of Management Committee Meetings
All business discussed or decided at Management Committee meetings shall be
recorded in a Minute Book which, within one month of the meeting, shall be
signed by the Chairman of the meeting, and at least one other Management
Committee member who was present at the meeting to verify that in their
opinion, the minutes are a true and complete record of all important matters
which were discussed or decided at the meeting.
At the next meeting, after approving any alterations or variations, which may be
written immediately below the above signatures, and not as alterations to the
original record, the meeting shall authorise the Chairman to sign and date the
final record.
49. Sub-Committees
The Management Committee may appoint sub-committees, such as an
Education Committee, Savings Committee, Credit Committee, Investment
Committee, and such number of Sub-committees as the Management
Committee shall determine
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50. Delegation to Sub-Committees
The Management Committee may delegate to the Sub-Committees such of its
powers and duties under these By-laws as it deems fit and proper.
51. Vacation of Office by Sub-Committee
A member of the Management Committee, or any other Sub-committee shall
cease to hold office if he/she ceases to be a member of the Society or by
resignation or removal from the Management Committee or Sub-committee.
52. Executive Committee
The Chairman, Vice-Chairman, Treasurer and Secretary shall be termed
“Executive Committee”. The Executive Committee shall be elected at a
meeting of the Management Committee within 7 days after each Annual
General Meeting, in accordance with By-law 43 for a term of three years and
eligible for re-election.
53. Chairman and Vice Chairman
a). The Chairman shall preside over all General Meeting of the Members, and over
all meetings of the Management Committee. The Chairman shall perform such
other duties as he may be directed by the Management Committee, provided that
such duties are not inconsistent with the provisions of the Act, Rules and these
By-laws.
b). The Vice-Chairman shall perform the duties of the Chairman during his absence,
and shall perform such other duties as he may be directed to by the Management
Committee.
54. Honorary Treasurer
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The Treasurer shall have financial management background.
The powers and duties of the Treasurer shall be:-
a). Generally to manage, or cause to be managed, the financial affairs of the
Society in a competent and efficient manner;
b). To maintain full and complete records of all assets, liabilities, income and
expenses of the Society;
c). To ensure the safe-keeping of the Society’s finances, securities and assets and
ensure that proper books of accounts are maintained;
d). To ensure that all payments and expenditures are duly authorised; and
e). To ensure compliance with all directives of the Management Committee.
f) To oversee the day to day operations of the Society’s staff;
55. Honorary Secretary
The duties of the Honorary Secretary are:-
a). To ensure the proper record of Minutes of the Management Committee
meetings and General Meetings;
b). To ensure that the Society’s correspondence is promptly and correctly attended
to;
c). To ensure the communication of notices of meetings; and
d). To perform such other duties as may from time to time be assigned by the
Management Committee.
56. The Manager
The Manager shall be the Chief Executive of the Society. The Manager’s
powers and duties shall be assigned by the Management Committee and in
particular:-
a). To manage the affairs of the Society in a competent and professional manner;
b). To cause to be kept proper books of accounts, registers and records;
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c). To attend Management Committee meetings and the Annual General
Meetings in an advisory capacity with no voting rights;
d). To prepare and analyse on a quarterly basis the Society’s business plan and
budget;
e). To represent the Society in business transactions and any other transaction
authorised by the Management Committee;
f). To provide information required by the Supervisory Committee in time;
g). To propose to the Management Committee of new positions arising at the
Society, and the revision of the salary schedule for all the Society’s staff;
h). To implement recommendations set forth in the audit reports and those
issued by the Supervisory Committee;
i). To ensure on a monthly basis the accounting records are in balance and the
individual accounts subsidiaries are up-to date and the income Statement,
balance sheet, and delinquency lists are complete and correct. The Manager
shall ensure that the account records are maintained in accordance with
internationally accepted accounting principles;
j). To ensure that adequate insurance is in place if available for all employees,
officials and property of the Society
k). To direct and supervise the administration and processing of loan applications
l). To advise a pricing strategy for products and services, in which the interest rates
structure will seek a balance between the loans available to the members, and the
long-term viability of Society. For this purpose the Manager should consider:-
(i).Costs, particularly those related to member savings, dividends,
the allowance for loan loss, and operating expenses.
(ii). The need for a strong capital position, which is essential for the
Society’s long term viability and future growth; and
(iii).The competition’s pricing structure, given the competitive nature of
the financial market.
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m). To assist the Management Committee in determining acceptable types of
collateral that can be used to secure the Society’s loans.
n). To ensure there is adequate liquidity to meet loan demands, savings
withdrawal, and operating expenses.
o). To ensure drawing up and updating of job descriptions of each employee.
p). To ensure implementation without delay of all decisions of all Committees of
the Society and the General/Members’ Meeting
57. Credit Committee
If appointed, the Credit Committee shall consist of three members who shall be
members of the Management Committee but none of whom shall be executive
officers. The Credit Committee shall be chosen at a meeting of the Management
Committee within 7 days after each General Meeting for a term of one year.
The Management Committee may set the minimum qualifications for the Credit
Committee membership, provided that no member below 21 years shall be
eligible for election to the Credit Committee.
58. Meetings of Credit Committee.
The Credit Committee shall hold such meetings as the business of the Society
may reasonably require, but not less frequently than once a month.
59. Duties of Credit Committee.
a). The Credit Committee shall keep records of its actions.
b). The Credit Committee shall inquire carefully and diligently into the character
and financial conditions of each applicant for a loan, and his/her guarantors, if
any, to ascertain the applicant’s ability to repay fully and promptly the
obligations incurred by him/her.
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c). The Credit Committee shall report to the Management Committee as the
Management Committee may require.
60. Education Committee
The Education Committee shall consists of three members who shall be
members of the Management Committee but none of whom shall be the
executive officers except the Vice Chairman of the Society who shall be a
member. It shall be upon the Education Committee to elect its Chairman,
Secretary and Member.
61. Duties of Education Committee.
The function of the Education Committee shall be to: -
a). Organise, facilitate and promote members’ and committee members’
education on co-operative matters;
b). Organise, promote and oversee Society’s staff training.
c). Ensure production and acquisition of literature including periodicals,
magazines, or brochures for use by committee members, staff and general
membership.
d). Promote distribution and interpretation of Society’s By-laws to members.
e). Arrange for educational tours in liaison with other members of the
Management Committee’
f). Advise the Management Committee and update members in all matters on
education and information on co-operative matters;
g). Ensure allocation of funds for educational purposes and apply the funds for
the benefit of the Society;
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h). Prepare periodic reports on educational and information on co-operative matters
and publicize the same for the benefit of members;
i). Identify, collect, disseminate and publish co-operative news for the benefit
of the Society; and
j). Any other duties as may be assigned by the Management Committee.
62. Election of Supervisory Committee.
The Supervisory Committee shall be elected by the general membership at the
Annual General Meeting. The Supervisory Committee shall consist of three
members who must not be employees of the Society’s or serving on the
Management Committee or any other Committee of the Society.
The term of the Supervisory Committee shall be 3 years and no more than 2
consecutive terms may be served.
The Supervisory Committee members shall choose among their number a
Chairman and a Secretary. The Secretary of the Supervisory Committee shall
prepare, maintain, and keep custody of the records of all actions taken,
including written evidence of any audits performed by the Supervisory
Committee. Conditions for elections shall be the same as those of the members
of the Management Committee.
63. Qualifications for Supervisory Committee Membership.
The Annual General Meeting shall set the minimum qualification requirements
for the members of the Supervisory Committee. Provided, that at least one of
the members shall have adequate Book-keeping, Accounting, Auditing or
financial management knowledge.
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64. Authority of Supervisory Committee.
Without intervening in the administrative functions subject to its control and
supervision, the Supervisory Committee is responsible for the Society’s
compliance and internal control and oversight. It is also responsible for the truth
and accuracy of the Society’s financial condition, and for making sure that the
Society’s administrative practices and procedures are adequate to safeguard the
members’ and the Society’s rights and interest.
Meetings of the Supervisory Committee shall be convened by its Chairman.
The Supervisory Committee shall meet as often as it finds necessary to carry
out its work efficiently. Its normal joint meetings shall be quarterly.
Honorarium to the Supervisory Committee shall not be determined by the
number of meetings. Remuneration shall be determined by the Annual General
Meeting. It shall be a body in the internal supervision of the Society as may be
determined by the General Meeting from time to time .
65. Powers and Duties of Supervisory Committee.
The following are the powers and duties of the Supervisory Committee: -
a). Evaluate programmes of the Society;
b). Check Minutes of the Management Committee and General Meetings for policy
matters following the stated objectives;
c). Ensure the proper interpretation of loan policies, By-laws, Act and the Rules,
Annual General Meeting resolutions, policies of the Management Committee,
and their implementation;
d). Confirm cash regularly and reconcile it with the records;
e). Check bank accounts monthly and their reconciliations;
f). Check balance sheets and income and expenses Statements to ensure they are
correct;
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g). Make passbook audits;
h). Check loan applications and note the exceptions, if any;
i). Verify the Society’s investments in banks, and in various institutions;
j). Check delinquent loans among the Management Committee and Society’s
members and ensure that the concerned are informed;
k). Analyze expenses of the Society;
l). Check dividends/interest on share/savings and loan interest payment;
m). Ensure that the standardized accounting system is implemented in the Society;
n). Listen to members’ complaints and assist them to find a solution;
o). Make regular review of budgets
p). Prepare and present reports to the Management Committee and to the General
Meeting;
q). Co-operate and seek assistance from Society Manager and Internal Auditor
where necessary;
r). Identify and recommend solutions for weakness in the Society’s matters to the
Management Committee;
s). Seek for solutions for weakness in management of the Society;
t). Establish whether the Society’s Management Committee members and staff
operate in the interest of the Society and the members in general;
u). In case the Supervisory Committee requires the services of an expert to assist
them in a specific job, the honorarium of the expert shall be determined by the
Management Committee based on the budget of the Society approved by the
General Meeting. The expert shall be selected by the Supervisory Committee.
v). Receive the reports of the Internal Auditor, if any, and take action on the same or
recommend for action by the General Meeting.
66. Liability of Supervisory Committee.
In spite of its total independence from the Society’s administrators, the
Supervisory Committee members are jointly and severally liable for the non-
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performance of duties, whether resulting from the lack of supervision or
negligence in noticing illegal and fraudulent acts.
67. Books and Records.
The Society shall keep up-to-date and in a proper business-like manner
accounts and such books as the Act and Rules may require from time to time.
The following books shall be kept by the Society: -
a). A register of members showing in respect of each member;
(i). The name , age , date of application for membership ,address and
occupation;
(ii). The date on which he ceased to be a member,
(iii). Particulars of his nominee if any.
b). Minute Book giving details of proceedings of the Management Committee and
Supervisory Committee
c). A Minute Book giving details of proceedings at the General Meeting
d). A cash book giving details of all monies received and all monies expended
or paid out by the Society;
e). A Ledger containing such accounts as are necessary to properly record the
transactions of the business of the Society.
f). A personal ledger for each member showing his/her transactions with the
Society.
g). An assets (property) register;
h). A stock control ledger;
i). A register of charges showing in respect of every charge created by the
Society the amount of the charge and the person entitled thereto.
j). A register of loans to members showing in respect of each loan the name of
the borrower, the amount borrowed, the purpose of the loan , the due date of
repaying, and the date the repayment is made.
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k). A ledger showing deposits and withdrawals made by members.
l). A guarantor’s control register showing loan interest rates and collaterals;
m). A copy of the Co-operative Societies Act, 1997;
n). A copy of the Co-operative Societies Rules, 1998;
o). A copy of the Society’s By-laws;
p). A copy of Kenya Union of Savings and Credit Co-operative Society By-laws;
q). A copy of internal regulations
r). A certificate of registration of the Society visibly displayed in the office;
s). Copies of approved Final Accounts;
t). Copies of Monthly Financial Statements;
u). Copies of the loan Policy;
v). Copy of the Risk Management Certificate or Insurance Policy Document; and
w). Such other books and records as the Management Committee may decide or the
Registrar may prescribe.
68. Financial Year
The financial year of the Society shall be the same as the calendar year that is
from 1st January to 31st December.
69. Regulations
The Management Committee may make such rules not inconsistent with these
By-laws, as they may deem necessary for the conduct of the Society’s business.
Any such regulations shall be recorded in the Minute Book and shall be brought
to the membership attention, and shall come into force when and as determined
by the Management Committee.
70. Elections
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a) Candidates must be members in good standing. Candidates shall present their
qualifications and willingness to serve voluntarily in the committee.
b) All elections shall be determined by simple majority vote of members present and
shall be by secret ballot or by show of hands except where there is only one
nominee for the office. If there is a tie vote, the election shall be repeated.
c). In all the Society elections:-
(i). All elections shall be by secret ballot or by a show of hand unless another
method is specifically requested by a majority of the members present
(ii). No member shall be entitled to vote by proxy
(iii). Irrespective of the number of shares held by him/her, no member shall
have more than one vote.
(iv). Within 10 days after their election the names and address of all persons
elected to office shall be compiled and kept by the Manager of the
Society
71. Conflict of Interest
Every Management Committee member and employee of the Society shall be
required, before taking part in any business transaction which the Society may
be about to discuss, or initiate to disclose any personal interest in the matter and
shall not take part in any discussion or vote upon that item of business. The
Management Committee member, or employee shall physically absent
himself/herself from the discussion unless it is determined that he/she
has relevant information to provide. Failure to divulge the said relevant
information shall result in removal from office or termination of employment.
72. Authorisation to Sign Documents
a). The Chairman, Vice-Chairman, Hon. Secretary and Treasurer or any designated
employee shall be signatories of the Society. The internal regulations shall
detail which signatories are necessary for particular operations
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b). Unless otherwise provided the documents of the Society shall be deemed official
provided they carry the official stamp and designated signatures referred to
above.
c). The books, accounts and all other documents of the Society shall be permanently
at the disposal of the Management Committee, Supervisory Committee and other
organisations or institutions as approved by the Management Committee.
Information from the records shall be kept absolutely confidential.
73. Disposal of Surplus
Subject to the Act and the Rules, and approval by the General Meeting, the net
surplus resulting from the operations of the Society during any financial year
shall be disposed of as follows:-
a). Not less than 25% shall be credited to the statutory Reserve Fund;
b). The balance may be disposed of as the Management Committee may
recommend in the General Meeting i.e.;
(i). Paying a dividend on shares and interest on deposits;
(ii). Paying it into the institutional capital to which no member has a claim
(iii). Being carried forward to an Education Fund or other funds of the Society,
including the appropriation accounts;
(iv). An amount not exceeding 10% of the remaining net balance may be
paid to any charitable purpose.;
(v). Paying a gratuity or honoraria, bonuses, allowances and other
commissions to officers or employees of the Society as determined by
the Annual General Meeting;
(vi). In any other way approved by the Annual General Meeting.
74. Loans to Members
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a). All loans shall be approved by the Credit Committee and shall be generally
restricted to members.
b). The rate of interest on loans shall be fixed by the Management Committee for
approval at the Annual General Meeting;
c). All loans shall be applied for on forms provided by the Society for the purpose.
The loan application shall be signed by the member and in each case shall set for
the amount applied for , the purpose for which the loan is desired, the terms of
repayment, the security if any and such other information as the Credit
Committee or the loans officer may require. All applications for loans and the
reports of the Credit Committee or loans officer thereon, shall be filed as a
permanent record of the Society.
d). For purposes of a member being considered for a loan, his shares and deposits
shall be taken into account.
e). Loan applications shall be considered by the Credit Committee or loans officer
in the order in which application is made unless the loan is deemed by the Credit
Committee to be an emergency loan.
f). The Credit Committee may summon or cause to be summoned an applicant to
appear personally to be interviewed in respect of his/her application for a loan.
g). The loan repayment form shall clearly state the amount of the loan, the rate of
interest, the terms of repayment, and the security, if any.
h). Loans may be granted to the Management Committee members and employees
of the Society if: -
(i). The loan complies with Society’s loan policy
(ii). The loan is approved by the Credit Committee or by the Management
Committee in special circumstances.
(iii). The applicant takes no part in the consideration of his/her
application and does not attend the Credit or Management
Committee meeting at which his application is being considered.
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i). A loan may not be granted if:-
(i). The conditions of membership or savings are not fulfilled;
(ii). The member is overdue for a period exceeding 3 months on the
repayment of a loan or interest on it;
(iii). The person concerned has been a member for less than 6 months;
(iv). The financial condition of the Society does not allow for the
granting of loans;
(v). The amount of delinquent loans exceeds 25% of the total amount of
loans outstanding in the Society;
(vi). It is in excess of 5% of the Society’s assets nor for a period
exceeding what is contained in the loan policy;
(vii). The applicant’s contribution in deposits is less than Kshs .
6,000.00
j). Under (v)and (vi) above, the Management Committee shall convene a Special
General Meeting and submit an explanatory report to it.
k). The Society, for all loans, reserves the right to ask for a premature
reimbursement, if the financial standing of the borrower is not clear or where
there is evidence of an unauthorized or poor use of the loan.
l). A decision in this respect shall be taken by a simple majority vote of the
Management Committee.
m).The Management Committee may draw further regulations in respect of granting
of loans provided such regulations shall not come into force until approved by
the General Meeting.
75. Security for Loans
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a). The Credit Committee or loans officer shall ask for such security for loans as
may be considered necessary. Guarantees and deposits shall be taken as the core
of security of a member.
b). Where there is, after 9 months, continued delinquency, the Society may off-set
the loan balance provided that all avenues have been exhausted to recover the
said loan but in vain. Any outstanding loan balance shall be off set in
accordance with the loan policy.
c). Nothing in these By-laws shall prevent the Credit Committee from using its
discretion to grant a loan secured only to the known character, honesty and good
standing of the borrower together with his income prospects
d). The Credit Committee shall refuse to accept as a guarantor a person who is
himself/herself delinquent in respect of his/her loan.
76. Repayment of Loans
a). A borrower may, on any day on which the Society is open for business, repay his
loan in whole or in part prior to maturity
b). The Credit Committee may in the most exceptional circumstances agree to the
re-financing of a loan balance.
c). At every regular meeting of the Management Committee, the item loans shall
appear on the agenda.
d).At the meeting, the Treasurer shall present an up-to-date listing of delinquent
borrowers showing:-
(i). Name
(ii). Account Number
(iii). Date of Loan
(iv). Date of last Payment
(v). Unpaid Balance on Loan
(vi). Number of Months Delinquent
(vii). Borrower’s Share Balance; and
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(viii). Security, Guarantors, if any
The Management Committee shall thereupon take action to collect the overdue
accounts.
77. Common Seal
The Society may adopt and use a common seal bearing the word “Seal of the
United Nations Savings and Credit Co-operative Society Limited” and shall be
kept securely under lock and key by the Manager or a duly designated officer
for that purpose and shall be used only by, and in the presence of, the officers
authorized to sign documents on behalf of the Society.
78. Disputes
Any dispute arising out of these By-laws or concerning the business of the
Society shall be referred to the Tribunal established under the Act.
79. Payments
The Society may, upon approval of the General Meeting pay any of its officers
or members such honorarium, salary, commission or other payment subject to
the provision of the approved budget for the financial year.
80. Confidentiality Oath
a). The Executive Committee, members of the committees and employees of the
Society shall hold in the strictest confidence all transactions of the Society, with
its members, and all information respecting their personal affairs, except to the
extent deemed necessary by the Management Committee in connection with the
loans and the collection thereof.
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b). In cases of breach of confidentiality, besides the resulting action for damages,
the responsible party shall be removed from the office or their employment
terminated.
c). No Management Committee member, committee member, Supervisory
Committee Member or employee of the Society shall in any manner participate
in the deliberations upon, or determination of any question affecting his/her own
financial or personal interest.
d). In the event of disqualification of any such executive officer, Management
Committee member, or employee he/she shall withdraw from such deliberations
or determination, and the remaining qualified committee members present at the
meeting, if constituting a quorum with the disqualified person, may exercise
with respect to the matter, all the powers of the committee.
81. Amendment of By-laws
These By-laws may be amended in accordance with the procedure set forth in
the Act, Rules and By-law 37 (b) but no amendment shall become effective
until it is approved and registered by the Registrar.
82. Acquisition of By-laws
Any person may purchase a certified copy of these By-laws from the registered
office of the Society upon payment of a fee as may be determined by the
Management Committee. For purposes of this provision, a copy of the By-laws
shall be deemed duly certified provided it is endorsed in compliance with By-
law 72(b) of these By-laws.
83. Inspection of Documents
All books of accounts and other records shall at all times be available to the
members and the committee of the Society. A copy of the Act, registration
certificate, these By-laws and a list of its members excluding details of
42
nominees and share holdings or loans shall be available for inspection by any
member at all reasonable times during business hours at a fee to be determined
by the committee from time to time.
84. Dissolution
a). The Society may be dissolved in accordance with the procedures set forth in the
Act and Rules made thereunder
b). In the event of liquidation, the assets of the Society shall be realized, all
liabilities shall be paid, all savings shall be refunded to the members and any
surplus or deficit thereafter shall be apportioned to each member in proportion to
the value of each member’s shares at the date of liquidation.
85. Acceptance
We the undersigned Executive Committee members of UNITED NATIONS
SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED named
herein do hereby accept and adopt these By-laws for and on behalf of UNITED
NATIONS SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED
together with any changes or alterations that have been initialed or signed by
us.
NAME SIGNATURE
Chairman __________________ ____________________
Vice-Chairman __________________ ____________________
Hon. Secretary __________________ ____________________
Treasurer __________________ ____________________
Certified that the foregoing By-laws of the UNITED NATIONS SAVINGS
AND CREDIT CO-OPERATIVE SOCIETY LIMITED have been approved by
me and duly registered.
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GIVEN UNDER MY HAND AT NAIROBI THIS ............................. DAY
OF............…….....2002.
H.A.EDAGWA
REGISTRAR OF CO-OPERATIVE SOCIETIES .
APPENDIX A
UNITED NATIONS SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LTD 1. APPLICATION FOR MEMBERSHIP
COMPLETE THIS FORM IN BLOCK LETTERS The Hon. Secretary, P.O. Box 30552, NAIROBI I hereby make an application for membership and agree to conform to the Society’s
By-laws and any amendment thereof.
FULL NAME: MR. MRS. MISS..............................................................................
DATE OF BIRTH..................................
OFFICIAL DESIGNATION..................................
PAYROLL NO......................................
TERMS OF SERVICE ........................................
ID. NO...................................................
EMPLOYER.........................................................
DATE....................................................
DEPARTMENT.....................................................
STATION................................................................
PRESENT ADDRESS ..................................................................
HOME ADDRESS...........................................................................
................................................
Signature of Applicant ______________________________________________________________________ 2. NOMINEE
I, the undersigned, in the event of my death, whilst a member of the Society, hereby appoint the person named in this section to be my nominee. The name of nominee can be given in a sealed letter. I understand that I may alter the name of the Nominee by filling in a subsequent Nominee Form.
NOMINEE (FULL NAME).....................................................................
...................................................................................................................................
RELATIONSHIP TO THE APPLICANT......................................
ID. NO..........................…………………..
ADDRESS OF NOMINEE …………………………………………………………….
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WITNESSES: -
(NAMES) Witnesses Signatures
1. .....................................................………. …………………………….
2. ................................................................... …………………………….
……………………………………
Signature of Applicant
___________________________________________________________________ 3. FOR SOCIETY USE ONLY (1) DATE OF ADMISSION TO MEMBERSHIP .......................FIRST DEDUCTION
DUE MEMBERSHIP REGISTER NO...........................Recorded by Board of Directors .......................................................... CHAIRMAN’S SIGNATURE............................... MINUTES
No./Date........................ (2) DATE OF WITHDRAWAL.................................. DATE OF REFUND, MANAGEMENT COMMITTEE ..................................... CHAIRMAN’S SIGNATURE.................................MINUTES No./Date............................
VOUCHER/CHEQUE No. .............................................
