I had purchased a flat in co-op society in December 2002 and I came to know today that society has not filed m-20 bond in 2002 now the question is am I a valid member of the society or i have to validate now with today’s committee , request to send information at the earliest
I C Naik
Suppose you do not know that M20 was not filed? if a question arise you say I don’t understand what is M20? You have every right to assume that the management committee is taking care of rules and regulations.
If at all a serious question arises, the the MCS Act 1960 has provided an escape route in Section 77 reading as under.
Section 77 – Acts of societies etc., not to be invalidated by certain defects
(1) No act of a society or a committee or any officer, done in good faith in pursuance of the business of the society shall be deemed to be invalid by reason only of some defect subsequently discovered in the organization of the society, or in the constitution of the committee, or in the appointment or election of an officer, or on the ground that such officer was disqualified for his office.