Society Registration Online Under Karnataka Societies Registration Act 1960
In Karnataka, there are two regulations that enable you to form an association of apartment owners, Karnataka Apartment Ownership Act. (KAOA) 1972, and Karnataka Societies Registration Act (KSRA), 1960. KAOA. And 1972 is a special legislation that exclusively covers residential apartments.
A majority of the apartment residents are opted with Karnataka Societies Registration Act, 1960. This is because of the simplicity of the procedure outlined under the Act, especially in comparison with Karnataka Apartment Ownership Act, 1972. The members will also find it easier to complete the documentation process. This is because the documents can be made ready without waiting for approval from authorities.
When you are the apartment owner, you’re asked for sums of money in the name of maintenance of the apartment complex. To save yourself from such troubles, it’s most suitable for you to form an apartment owners’ association with fellow apartment owners.
The Karnataka Society Bye-Laws
- The member of an association is one who is an owner of the apartment that is a part of the apartment complex. In case of joint ownership, the person whose name comes first is typically considered a member.
- Memorandum Of Association should fulfill the required conditions like it should contain the name and objective of the society, the address of the registered office of the society, names, occupations, and addresses of the governing body, as well as the names, addresses, and signatures of people subscribing to the Memorandum of Association.
- Act says you should maintain proper balance sheet, means snapshot of the association’s financial condition, balance sheet is a summary of the financial balances of the association. The assets, liabilities, and equities, which are also considered liabilities, are summarized as on a single date.
Karnataka Society Bye-Laws In Kannada.
Documents Required For Society Registration
To Register Society under Karnataka Societies Registration Act, 1960. You need to submit following Documents to registrar:
- The application form.
- PAN Card
- List of All Members
- Rules & Regulations of Society
- Memorandum of Association.
- Proceedings of the first meeting.
- A list containing the name, age, address, occupation, and signature of all the members comprising the Executive Committee.
- The association’s bye-laws.
Post Fallow up
- You have to report to the Registrar-Officer about the formation and get the recognition.
- Every year after the registration, the association needs to have a general meeting. In this meeting, the previous years’ report on the society’s management, the auditor’s report, and the audited copy of income and expenditure account and the balance sheet need to be presented.
- As per the Act, the first general meeting needs to be held within 18 months of registering the association. The second general meeting needs to occur within 9 months of completing the first general meeting.
- The List of the governing body members and balance sheet to be filed with the Registrar list of the same details as were submitted during registration.
- Submit Society and a copy of the audited report of the income and expenditure account and balance sheet on or before the 14th day after the completion of the annual general meeting during registration at the Registrar.
How to Check Society Registration Online?
Once You Submit the Required Documents, Order Report, Audit Report and Balance Sheet to The Registrar, They Process and Review All the Documents, They Will Update on Official Websites. You Can Check Society Registration Status On the Official Website of Municipal of Corporate Affairs. (It Takes Around 1month)