Model By–Laws of Cooperative Housing Society
VI. FUNDS, THEIR UTILISATION AND INVESTMENT
(A) Raising Funds (By Law No 7)
By-Law No 7. Modes of raising Funds of the Society
The funds of the society may be raised in one or more of the following ways;
- by entrance fees,
- by issue of shares,
- by loans and subsidies,
- by deposits,
- by voluntary donations, (but not from Transferor and Transferee)
- by contributions towards cost of building or buildings,
- by fee on transfer of shares, along with the occupancy right, assignment
- by premium on transfer of occupancy right over the flats,
- by corpus fund from Promoter Builder
- by any other mode permitted under these bylaws,
- by way of statutory requirements,
- by way of non-occupancy charges, leasing / hiring of open spaces,
- by way of corpus fund, in case of redevelopment