BYE-LAWS – BARAZA

OUR BYE-LAWS

Bye – Laws of BARAZA MULTIPURPOSE COOPERATIVE SOCIETY LIMITED

INTERPRETATION

All words and expressions used in these Bye-Laws and define by section 57 of the Nigeria Cooperative Societies Acts Cap.N98 law of the Federation of Nigeria (LFN) 2004 assigned to them in the above name Section. The following words or expressions shall have the meaning respectively assigned to them below.

“Financial Year” means the period of twelve months beginning on 1^st Jan. and ending on the following 31^st December.

“Director” means director of Cooperative Societies Bayelsa State, Nigeria

“Regulations” means regulation made under Act Cap N98 law of the Federation of Nigeria (LFN) 2004 as amended from time to time.

iii. If there shall arise any doubt regarding the meaning or intention of any of these Bye-Laws, the matter shall be referred of the Director for his ruling.

NAME, ADDRESS AND AREA OF OPERATION

This Society shall be called the BARAZA Multipurpose Cooperative Society Limited

Its address shall be YENAGOA

Area of Operation: The area of operation of the Society shall be

BAYELSA AND ITS ENVIRONS

III OBJECTS

OBJECTIVE FOR MULTIPURPOSE COOPERATIVE SOCIETY (MPSC)

To engage in Thrift and Credit operations.
To engage in Arable and tree crops planting
To engage in Poultry farming
To undertake simple processing and marketing of Co-operative farm products.
To stock and distribute various kinds of farm inputs such as fertilizers and others farm chemicals to farmers
To produce and distribute consumer commodities to the consumers at reasonable prices.
To carry out any activities designed on Cooperative principles which will encourage the spirit and practice of cooperative among the members.
MEMBERSHIP AND LIABILITY
MEMBERSHIP: The membership shall consists of:

(1) Persons who join in the application for registration

(2) Persons admitted in accordance with these bye-laws

QUALIFICATION:

(1) Every member of the society must be in the society area of operation, a member who leaves the field of membership of the society may retain his membership therein, but may not borrow there from in excess of his savings and share capital.

(2) Of good character

(3) Of not less than 18 years of age except the case of a minor, heir of a deceased member and where the Bureau grants exemption from the qualification.

(4) Not a member of any other Society the primary object of which is to grant loans to its members, except with the permission of the Bureau.

ADMISSION:

Application for membership shall be made in writing through the Secretary and shall be disposed of by the Committee who may grant or refuse admission. Any applicant refused shall be informed that he may appeal through a member of the Society to the next general meeting of members which may take such decision as it thinks fit.

Every member on admission shall sign or thumb print the membership and Attendance Register.

DECLARATION OF OBLIGATION

Every member shall on joining the Society render to the Committee a true and complete statement of his indebtedness outside the society.

LIABILITY OF MEMBERS:

The liability of members for the debts of the Society shall be Limited to _______________Times the nominal value of one share. The value of a share is two naira.

NOMINEES:

Every member shall nominate in writing one person to whom should he die or become permanently insane his share or interests shall be transferred. The member may at any time change his nominee. The name of the nominee shall be entered in the Register of members and any alteration shall be signed by members. If not admitted to membership the nominee shall in case of the death or permanent insanity of the members, be paid the value of the share or interest less any sum owing to the Society.

TERMINATION OF MEMBERSHIP:

Membership shall be determined by;

(1) Death

(2) Permanent Insanity

(3) Ceasing to reside in the area of operations as defined in Bye-Law 6(i)

(4) Ceasing to hold one full share

(5) Withdrawal after six Months’ notice conveyed in writing to the Society’s Secretary, provided that the member withdrawing is neither indebted to the Society nor surety for an unpaid debtor and

(6) Expulsion under Bye-Law 13

EXPULSION:

A member may be expelled for:

(1) Repeated failure to make thrift savings as laid down in Bye-Law 47.

(2) Repeated failure to pay the share installments of debt due from him to the Society.

(3) Conviction on criminal offence involving dishonesty and

(4) Misconducts or other acts contrary to the stated objects of the society or the interest of the Cooperative members.

LIABILITY OF PAST MEMBERS:

(i) A past member shall be liable for the debts due by the Society, as they existed at the date when he/she ceased to be a member for a period of two years from the date on which he ceased to be a member

(ii) The estate of a deceased member shall be liable for the debts due to the Society as they existed at the date of his deceased, for a period of two years after his deceased.

DUES TO MEMBERS:

Any money due on any account from this Society to a member or a past member shall be set in payment of any sum which he owes of for which he stands surety.

(v) CONSTITUTION AND DUTIES OF GENERAL MEETING

The ultimate authority under the Law in all the affair of this Society shall be the general body of members who shall from time to time and at least once in three months to review and direct the work of the Society.
QUORUM:

The presence of at least one fourth of the members shall be necessary for the disposal of any business at a general meeting provided that, where the total number of members exceeds one hundred; twenty five members shall suffice.

THE ANNUAL GENERAL MEETING:

The annual General Meeting shall be held within the first and second quarter of the succeeding year after the annual statement of accounts have been prepared.

THE DUTIES OF THE ANNUAL GENERAL MEETING SHALL BE;

(i) To receive from the outgoing Committee a report on the proceeding year’s working of the Society with the statement of accounts:

(ii) To decide upon the disposal of the surplus in accordance with the provisions of Bye Law 69:

(iii) To consider any communication received from the Bureau and,

(iv) To elect the President, Vice President, Treasury and Committee for the ensuring year. The Secretary/Manager and any other staff are to be appointed.

DUTIES OF ORDINARY GENERAL MEETING

When necessary a general meeting shall;

(i) Suspend or remove from office any officer or member of the committee in accordance with these Bye-Law;

(ii) Confirm the admission or expulsion of members;

(iii) Amend or repeal any existing Bye-Laws or enact a new Bye-Law in accordance with these Bye-Laws;

(iv) Fix the rate of interest to be charge upon loans to members;

(v) Ratify the appointment or dismissal of the Secretary on the recommendation of the Committee and

(vi) Dispose of any other business duly brought before it.

SPECIAL GENERAL MEETING

An extraordinary General Meeting may be called at any time by a majority of the Committee or on a request from the Bureau of Cooperative or from not less than one fourth of the members of the Society if there are less than hundred members or by twenty-five members if there are more than hundred members.

ATTENDANCE OF MEMBERS:

It shall be the duty of every members to attend General Meetings. The general Meeting shall have power under Bye-Law 85 to impose penalties on members who without wed reason neglect to attend

VOTING:

All questions shall be decided by a majority of votes of the members present and voting. Each members shall have one vote only. At all meetings the Chairman shall have a casting vote in addition to his ordinary vote.

VI OFFICERS AND SECRETARY/MANAGER

OFFICERS:

The President, the Vice President and Treasurer elected at the Annual General Meeting shall hold office for ___________ years and shall resign at the next Annual General Meeting, but shall be eligible for re-election. They shall be ex-officio members of the Committee. Any vacancy arising due to the death, removal, withdrawal or transfer of an officer shall be temporary filled by a member of the committee elected at a Committee meeting.

PRESIDENT:

The President shall preside at all General and Committee meetings of the Society and shall have powers to convene meetings. In the absence of the President, the Vice President if any shall be the Chairman at meetings and such shall have all powers of the president in the absence of the both, a member of the Committee shall be nominated Chairman of the Meeting.

TREASURER

The treasurer shall take charge of money received by the Society from members and from others and make disbursement in accordance with the directive of the committee. He shall sign the cash book in token of its correctness and produce the cash balance whenever called upon to do so by the Committee, the Director General, inspector or Auditor and at every General Meeting. He shall sign all member passbooks. He shall deposit all funds over the limit fixed by the General Meeting in any bank approved for this purpose by the General meeting. All such sums shall be deposited in the name of the Society.

TRUSTEES:

The president, the Secretary/Manager, the Treasurer and if General meeting so desires, one other member of the Committee, shall be the trustee of the Society. It shall be their duty to sign on behalf of the society all cheques and legal documents including those concerned with transfer of funds acquisition and disposed of property of the society.

SECRETARY/MANAGER:

The committee shall appoint a Secretary/manager, who if he is not a member of the Committee, may receive or be paid an honorarium with the sanction of the General meeting.

SECRETARY/MANAGER

The duties of the Secretary/manager shall be as follows:

(1) To maintain correctly and up-date the prescribed books and registers;

(2) To procure from borrowers the due execution of bounds with security;

(3) To prepare all receipts vouchers and documents required by the Regulations or Bye-Law or called for by the Committee;

(4) To sign on behalf of the Society of the Society and conducts its correspondence;

(5) To summon and attend General Meetings and Committee meeting on the instruction of the president;

(6) To record the proceedings of such meeting of such meetings and have

(7) To certify copies of entries in books

SECURITY BY EMPLOYEE

The Secretary and any other employees considered necessary may be required to give security in such amount as the Committee may from time to time determine.

VII. CONSTITUTION AND DUTIES OF THE COMMITTEE

COMMITTEE

Subject to the Decree, the Bye-laws and the resolutions of the General meeting, management of the society shall be vested in a committee.

CONSTITUTION

The Committee shall consist of at least nine members over the age of 18, including the President, Treasury, the Secretary may also be elected and one or more Vice Presidents. The members shall be elected two years at the Annual General meeting and shall be eligible for re-election, provided that if for any unavoidable reason Annual General Meeting cannot be held at a suitable time within the year, the existing Committee shall continue to hold office till the election of a new Committee: but such election shall in no case be held not later than eighteen (18) months after the election of the previous Committee.

33. DISQUALIFICATION OF MEMBERS OF THE COMMITTEE

A member of the Committee shall cease to hold office if he;

(1) Ceases to be a member of the Society;

(2) Becomes of unsound mind:

(3) He is not eligible under regulations 25,

(4) Becomes financially embarrassed;

(5) For any other reason provided in the laws of the society.

(6) Acts in a manner prejudicial to the interest of the Society

MEETING

Meeting of the Committee shall be held when necessary and at least once a month. The attendance of at least five members shall be required for the disposal of any business.

35. POWERS AND DUTIES:

The Committee shall exercise all the powers of the Society except those reserved for the general meeting subject to any restriction duly laid down by the Society in General meeting or in the Bye Law and in particular shall have the following power and duties;

(1) To observe in all their transactions the Decree, the Regulations and the Bye Laws;

(2) To ensure the maintenance of true and accurate accounts of all monies received and expended and all the assets and liabilities of the society;

(3) To keep a register of members correct and up to date

(4) To lay before the Annual General Meeting an income and expenditure account and Audited balance sheet

(5) To examine the account sanctions, contingent expenditure, and supervise the maintenance of the prescribed Register.

(6) To consider the inspection notes of the Government Cooperative Staff and take necessary actions

(7) To admit new members subject to the confirmation of a General Meeting

(8) To arrange for the recovery of share installments and increase on overdue installments

(9) To summon General Meetings

(10) To contracts loan subject to any restriction imposed by the General Meeting or the Bureau

(11) To decide the terms on, and the period for which loans are to be given, to approved or reject the security offered by borrowers, to arrange for the recovery of loans and interest and to sanction renewals when necessary.

(12) To decide on the terms on the periods for and the rates ,of interest at which deposits and loans from non-members are to be received, and to arrange for the payment or return of such;

(13) To decide the terms of purchase and sales of goods or stock which the Secretary may require for its and to arrange for the safe custody of such assets while in stock

(14) To watch that loans are applied to the purpose for which they are made.

(15) To assist the inspection of the books by any persons authorized to do so

(16) To institute, conduct, defend, compromise, refer to arbitration or abandon legal proceedings by or against the Society or Committee or its officers or employees in matters concerning the affairs of the Society,

(17) To arrange for the custody of books and to appoint one of its members or one of the officers of the Society, residents in the society seat of operation to take charge of all the registers and papers prescribed in these Bye-Laws.

(18) To recommend the appointment or dismissal of the Secretary in the General Meeting for confirmation of Secretary/Manager to the general meeting for confirmation of employee;

(19) To fix the maximum credit limit for each member

(20) To take necessary action regarding debtor or delinquent members and

(21) Generally to carry on the business of the society to watch over the interest of the society and to set an example of keenest and Cooperative spirit to the other members of the society.

RESPONSIBILITY OF COMMITTEE

In their conduct of the affairs of the Society, the Committee shall exercise the prudence and diligence of ordinary men of business and shall be responsible for any loss sustained through acts of omissions contrary to the decree the Regulations and Bye-Laws.

VIII. CREATION OF FUNDS

SOURCES OF FUNDS

The funds of the Society shall be composed of:

(1) An undetermined number of shares of the values of ………………………………………………………………………………………………

(2) Entrance fees ……………………………………………………………………………….

(3) Savings of members as declared by Bye-Laws 47

(4) Deposits and loans from members as in Bye-Laws 44

(5) Surpluses arising out of business of the society and

(6) Miscellaneous sources approved by the Bureau.

EMPLOYMENT OF FUNDS

The funds of the Society shall be devoted only to the promotion of the stated objects of the Society to any other objects permitted in this Bye-Laws and to any other purpose approved by the General Meeting.

SHARE HOLDING:

Every member must hold at least…………………….full share which shall not be transferable except to a nominee in accordance with Bye-Law 11

WITHDRAWAL OF SHARE:

Shares are not unconditionally withdraw able but if at the end of the financial year the Society’s financial situation is favourable, the committee may repay to any member whose membership was terminated during the year a sum not exceeding the amount paid by him on account of shares provided that not more than five percent of the total paid share capital shall be thus paid out in any year without the Bureau.
PAYMENT OF SHARES

Share shall be paid up in not more than 24 monthly instalments. Any members may pay up the full value in advance at any time. Members not paying their instalments by due date may be penalized for every full month of arrears.

LIMIT OF SHARE HOLDING

No member shall hold more that fifth of the inheritance or otherwise become possessed of more than the maximum holding permitted, the Committee may sell the excess or buy them on behalf of and for disposal by the Secretary.

ENTRANCE FEES:

Every member on joining the Society shall an entrance fee of ____________________________________________________________________________

DEPOSITS AND LOANS FROM NON-MEMBERS

The society shall not incur any liability towards non-members in excess of a sum equal to three-fourth of the total aggregates value of the paid up share capital, all reserves and Thrift savings and shall not begin to accept any such deposits or loans from non-members without the written permission of the Bureau, provided that the Society may borrow from a Co-operative of which it is a member to the extent laid down in the Bye-Law of such organization.

LIMIT OF RENEWALS:

The Society shall not renew any loan or deposit which would make its liability to non-members exceed the limit laid down in Bye-Laws 44

INTEREST PAYABLE TO NON-MEMBERS

The rate of interest payable to non-members on loans or deposit shall not exceed __________ per annum nor shall it exceed three-fourth of the rate of interest charge by the Society on loans to members.

COMPULSORY SAVINGS

1) Every member shall make regular thrifts which shall be withdraw able only with the permission of the Committee for necessary or productive purposes;

2) Saving shall be governed by rules to be framed by the Society subject to the approval of the Bureau.

3) The rate of interest paid on regular thrift savings shall be determined after the surplus has been ascertained and necessary reserves created.

4) The Committee may exempt a member from the obligation to make compulsory savings for any period during which his circumstances do not permit of such savings.

USE AND CUSTODY OF FUNDS

INTERNAL FUNDS

The funds of the Society may be held in the form of:

(1) A reserve fund

(2) A depreciation fund

(3) An insurance fund

(4) A development educational propaganda or other funds approved by the General Meeting and the Bureau

(5) Current or Savings bank accounts of cash.

USE OF FUNDS

The funds of the Society shall be applied only to the furtherance of its stated objects in accordance with these Bye-Laws

INVESTMENTS

Such of the funds of the Society as not required for current use may be invested in any manner permitted by Law and Regulations and Approved by the Bureau.

OPERATION OF BANK ACCOUNT

The Society’s bank account shall be Trustee Accounts, before money is withdrawn from the bank. The Cheques or withdrawal slips shall be signed by any authorized trustee, which the mandate is approved to the bank in writing by the Society General Meeting.

LOANS
PURPOSE OF LOANS

Loans may be granted to members only for purposes which in the opinion of the Committee are productive or necessary and in the best interest of the borrower.

CONDITIONS GOVERNING LOANS

No loans shall be granted to:

(a) Any individual other than a member of the Society;

(b) Any member whose instalments of shares are in arrears:

APPLICATION OF LOANS

These shall be made through the Sec/Manager and disposed of by the Committee

LOANS TO ANOTHER REGISTERED SOCIETY.

With the approval of the Bureau a loan may be granted to another Society.

LOANS TO MEMBERS

Except in the first year of the Society, no loans shall be made to a member within a month of his admission by the Committee except in the case of the transfer of an existing loan of a past member to his nominee or other successor in interest who is or becomes a member of the Society.

NO LOANS SHALL BE GRANTED

(a) For a period exceeding the time limit fixed by the General Meeting:

(b) If it would bring a members total indebtedness at the time of the loan to amount exceeding his maximum credit limit and

(c) Unless approved by a majority of the members of the Committee who are present at the meeting at which the application I considered or loan Committee.

MAXIMUM CREDIT LIMIT

The maximum credit limit to each applicant for a loan shall be fixed by the Committee bearing in mind the availability of funds, the ;principle of making credit available to as many members as are qualified and the securities offered.

INTEREST ON LOAN TO MEMBERS

Interest on loan to members shall be fixed by the Committee annually and approved by the General Meeting but shall in no case exceed 15% per annum. In case of default in repayment penal interest shall be charged at twice the normal rate.

PRODUCE MARKETING
a) The Society shall decide which produce it shall market and shall make plans ultimately to market all member’s produce;
b) When a Society has decided to market any particular type of produce: members shall be bound to sell their produce only to the Society subject to (c) below
c) Members s hall take steps to ensure that their produce is of the highest quality and free from adulteration, produce which falls below the standard set by the Society may be rejected and the Society shall be under no obligation to purchase it;
d) The Society shall have scales or other means of measuring produce and shall give a member a receipt the weight, volume or other measures and the value of the produce, after deducting tax if necessary;
e) The Society may either pay the member the value of the produce at the time of purchase or may wait until the Society has sold the produce or may pay an instalment of the value as members may decide.

BETTER FARMING.
a) Members in General Meeting shall decide what better methods of farming are to be adopted after seeking the advice of the Officer of the Ministry of Agriculture. They shall also undertake to increase cultivation whenever possible.
b) Members who fail to adopt means approved by the General Meeting may be penalized or expelled from the Society.
SUPPLY OF CONSUMER GOODS
a) The society shall purchase for supply to members such equipment or seeds or other Agriculture supplies as are necessary for the development of members’ farms. Where the member is not I position to pay cash for these requirements, the value of the supplies may be treated as a loan under Bye-Laws 13
b) The society shall also stock for sales to members domestic and personal requirements, including foodstuff. No such food may be supplied on credit, if the members are indebted to the society or is standing surety for another member’s debt if the credit is approved, it shall not exceed the amount of member’s share and savings, nor will the credit exceed or extend beyond one month.
BOND OF SURETY

Every borrower shall execute a bond and shall furnish two sureties. No extension of the period of replacement shall be granted without the consent of the Sureties. Sureties must be members of the society and must furnish the statement required by Bye-Laws 9.

DUTIES OF SURETY

A surety must be a reputable member of the society and shall personally guarantee:

(i) Replacement of the loan if the borrower defaults;

(ii) The correctness of the particulars on which the value of the borrowers’ securities is based:

(iii) The loan is used for the purpose stated by the .borrower in his application. Misuse of the loan shall be reported by the surety to the Committee immediately.

COMMITMENT AS SURETY

A member commitment as surety shall not when taken together with his own existing borrowing exceed his maximum credit limit.

RECALL OF LOANS

All loans shall be issued subject to the right of the Society to call for immediate repayment:

(i) If any misapplication is proved

(ii) If the borrower gives an indication of resignation

OUTSIDE BORROWING

No member shall borrow money from any source other than the society without the permission of the Committee.

APPROPRIATION OF DEBIT PAYMENT

When a member from whom money is due pays any sum to the society, it shall be appropriated in the following orders: Firstly: to share payments, penalty and other miscellaneous charges due by him, secondly, to interest on loans and thirdly, to loan principal.

DISPOSAL OF SURPLUS
APPROPRIATION

At the close of each financial year, the Society’s expense including the interest payable on deposits from non-members and Audit and supervision fees due, shall be deducted from the Society’s income. The net Surplus shall be appropriated as;

(1) At least one-fourth shall be earned to the Reserved Fund unless permission is given by the Director to reduce this amount:

(2) At least one-tenth shall be carried to an Education fund

(3) The balance shall be utilized for one or more of the following purposes:

a) Payment of dividend on shares subjected to Bye-laws 70
b) Payment of bonus to members as a refund of a ;percentage of interest paid on loans during the years subject to the confirmation ,of the Annual General Meeting proved that a share dividend or not less than 3% has been declared:
c) Donations, not exceeding 10% of the net surplus to any charitable or social purpose approved by the Bureau
d) Building up a General Reserve:
e) Institution of share transfer fund.
DIVIDEND

The dividend paid on shares shall not exceed 20% and or dividend shall be paid if any overdue claims to a deposits or lender remain unsatisfied.

BUREAU APPROVAL

The appropriation of the surplus shall be subject to approval by the Bureau and governed in all respects by the spirit of and letter of the law and the regulations.

XII RESERVED FUND

The Reserved fund is indivisible and no member is entitled to claim a specified share in it, except with the written permission of the Bureau, it shall not be utilized in the business of the Society; but shall be deposited or invested in accordance with section 34 sub 2.

XIII. AUDIT SNF SUPERVISION FEES

AUDIT AND SUPERVISION FEES

Audit and supervision fees at the rate assessed by the Bureau and published in the Bayelsa State of Nigeria Gazette shall be paid annually to the Bureau for Cooperation Development

XIV. BOOKS OF ACCOUNTS

PRESCRIBED BOOKS AND RECORDS

Account and records shall be maintained in the forms prescribed by the Director and shall include the following:

1) A membership and Attendance Register showing the name, address and occupation of every members, the number of shares held by him, the date of his admission to membership, the nominee appointed under Bye-Law 11, and the member’s attendance at general meeting;

2) A cash book showing the receipt, expenditure, and balance on cash day on which business is done

3) General ledger;

4) Personal ledger with account for each member, depositor and creditor;

5) Loan register showing account installments for repayment of loans;

6) Minutes books for proceedings of general and Committee Meetings;

7) Register of share payments;

8) Loans bond showing particulars od and containing bonds for all loans for all loans issued of such other records as prescribed by the Director

The books accounts register and papers of the Society shall be open of all reasonable time for the inspection of member and of any accredited Cooperative Official provided that no persons other than of Officer or Committee member of the Society or a Cooperative Official shall be allowed to see the personal account of any member without that members’ consent. Copies of the law, the Regulations and of these Bye-Law shall be available for inspection at the registered address or the Society at all reasonable hours
PASSBOOKS

Each member shall purchase from the Society a .passbook showing particulars of his personal account with the Society.

UNOFFICIAL BOOKS

No book or account dealing with the affairs of the Society or its members shall be kept by the manager except those officially recognized and prescribed.

RECEIPTS:

It is the duty of every member

1) To insist upon obtaining from the manager a separate printed receipt from the proper receipt book, or such other form of receipt as may be approved by the Bureau for every sums of money paid by him to the society.

2) To sign or make his thumb print in the proper book in token of receipt whenever any sum of money is paid or repaid to him by the society.

LIQUIDATION

The society shall not be liquidated except in accordance with section 39 to 47 of the Law

DISPOSAL OF FUNDS

On the dissolution of the society the Reserve and other forms ,of the Society shall be applied;

(1) To discharge the liabilities of the Society and

(2) To the repayment of the share capital paid-up

The remainder shall be placed by the Bureau in the bank until a new Cooperative with a similar area of operation is registered in which event the funds shall be credited to the Reserve Fund of the Society.

XVI MISCELLANEOUS PROVISIONS

AFFILLIATION TO CREDIT UNIONS

Unless there are reasons to the contrary accepted by the Bureau, a Society shall affiliate itself at the earliest possible moment to any Credit Union formed in its area of operations

DISPUTES/APPEAL

Any disputes in or concerning the Society and its members of past member shall be referred to the Bureau for settlement by arbitration under the provision of sections 49 of the Law are appeal under section 49(8) by Director General.

SEAL

The Secretary/Manager shall hold in safe custody the seal of the society on behalf of the trusty. The seal shall be of pattern approved by the Director/ Documents shall be sealed in the presence of at least two of the trustees one of whom shall be the Secretary/Manager

The General Meeting of the Secretary may impose surcharge on members not exceeding one Thousand Naira (N1,000.00) in any case, for flagrant or repeated contraception of the Bye-Laws.
AMENDMENT OF BYE LAWS

Any amendment of or addition to these Bye-Laws shall be made by General Meeting ,of the society in accordance with the Regulations and shall not be valid registered by the Bureau Director.

I hereby certify that the foregoing Bye-Laws of the BARAZA MULTIPURPOSE COOPERATIVE SOCIETY LIMITED no.; 155701 have been registered under Section 5(i) of the Nigeria Cooperative Societies Act Cap.N98 Law of the Federation of Nigeria (LFN) 2004

This ______ day OCTOBER of 2019

BAYELSA STATE BUREAU FOR

Cooperative Development

…………………………………………………

Director of Cooperative Services

BYE – LAWS of the

BARAZA MULTIPURPOSE COOPERATIVE SOCIETY LIMITED