SACCO Society definition

SACCO Society means a savings and credit co-operative society registered under the Co-operative Act and licensed under the Sacco Societies Act, 2008.

SACCO Society means a savings and credit co-operative Society registered under the Co-operative Societies Act, Cap 490 and licenced under the Sacco Societies Act, 2008.

SACCO Society means a savings and credit co-operative society registered under the Co-operative Societies Act (Cap. 490);

Examples of SACCO Society in a sentence

• A member of the Board of Directors shall not receive remuneration in the form of a salary or any fixed periodic payments in respect of services rendered to the SACCO Society.

• The Board of Directors shall notify the members of the SACCO Society of the vacancies arising in both the Board of Directors and the Supervisory Committee.

• The SACCO Society shall ensure that all proceedings of the meetings of the Board and any Committee of the Board are recorded and kept in the head office where other records are kept and shall be preserved in the same way the assets of the SACCO Society are kept and preserved.

• The General Meetings of the SACCO Society shall be convened by giving at least fifteen (15) days’ written notice to the members, and the Secretary of the SACCO Society, shall take necessary measures and steps to publish the notice of meeting in public places, the websites of the SACCO Society, notice boards, local newspapers, including the print and electronic media or any other mode decided by the members.

• Partial withdrawal of non-withdrawable deposits from the SACCO Society shall not be allowed under any circumstances.

• The SACCO Society shall at all times maintain a members’ register in an electronic format using a Management Information System (MIS) that conforms to the requirements of regulation 5(4)(b) of the Regulations 2020.

• A notice of any changes in the postal and/or physical address and/or any other official address of the SACCO Society, including official electronic addresses (email, website and telephone) shall be furnished to the Commissioner; the Authority, and to all members of the SACCO Society through their last known address as per records held at the SACCO Society, within thirty (30) days of such changes.

• All General Meetings of the SACCO Society shall be held at a physical venue and place which shall be contained in the notice constituting the meeting, except that a meeting may be held on such terms and conditions as the Commissioner may direct.

• The Board of Directors shall prepare and submit to the General Meeting of the SACCO Society for approval, with or without amendments, the proposed estimates of income and expenditure together with the Capital Expenditure Budget for the ensuing financial year, at least three (3) months before the commencement of the ensuing financial year.

• The SACCO Society shall maintain an updated register of all policies and/or procedure manuals made and approved by the Board of Directors, an original copy of the policy duly; containing the name and/or other particular details of the policy, the date of approval of the policy; where any amendments have been made to the policies, the date of approval of the amendment.

More Definitions of SACCO Society

SACCO Society means a savings and credit co-operative society registered under the Co-operative Societies Act, 1997 No. 12 of 1997;

SACCO Society means a savings and credit co-operative society;

SACCO Society means a savings and credit co-operative society; “Share” means the amount represented by a member's portion in the

SACCO Society means a savings and credit co‐operative society registered under the Co‐operative Societies Act and licensed under the Act.

SACCO Society means a savings and credit co-operative society registered under the Co-operative Act;SACCO” means Savings and Credit Co-operative Society;