Membership

Kerala State Pravasi Welfare Development Co-operative Society Limited No:4455 (Say PRAVASIS LIMITED) offer its membership to any person called  as ‘pravasi’(Non Resident Keralites and Returnees) as per bylaw, who is 18 year old or above, competent to contract under section 11 of the Indian Contract Act, 1872, who resides or is engaged in any occupation, profession or business within the area of operation of the Society and he shall not  have any type of disqualification as per the Act and Rules may be admitted as an Ordinary member.

The Board of Directors of the Society have the right to approves / reject the application for membership.

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‘A’ Class Members

An applicant will be enrolled as an ‘A’ Class member upon fulfilling the following conditions if he/she:

• Has taken at least one ‘A’ Class Share of Rs.1,000/-
• Has paid admission fee of Rs.50/-
• Has fulfilled all other conditions laid down in the Act, the Rules and the Bye-laws.

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Nominal Members

Any person who desires to stand surety for a borrowing member of the Society or who desires to borrow occasionally as permitted by Directors of the society may be enrolled as nominal member ( ‘C class / D class’) upon his/her application in the prescribed form and upon his/ her agreeing to the condition that he/she shall cease to be a nominal member when all liabilities against him either as a borrower or as a surety are fully discharged provided that such person is one who resides or is gainfully engaged in any occupation within the area of operation of the Society.

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Liabilities of Members

The liability of a member shall be limited to the capital represented by the share or shares of which such member is the registered holder. The liability of a past member to the extent of shares as they existed at the time when he ceased to be a member shall continue for a period of two years from the date of cessation. The estate of the deceased member shall remain liable to the extent of sums due to the society for a period of two years.