SANIAGA SACCO CONSTITUTION
NAME AND ADDRESS.
a) The name of the Cooperative: SANIAGA SACCO (S-SACCO)
b) Registration number: (…………………………)
c) Address: BOX 87 Wodanga
d) Headquarters of the Cooperative: Vihiga County
e) The number of founder members: 30: MALE = 19 FEMALE = 11
f) Integration of members: Entrepreneurship with various activities.
1.0 OBJECTIVES OF SANIAGA SACCO.
a) To improve the living conditions of members; economically and socially.
b) To harness expertise, professionalism and entrepreneurship abilities of members.
2.0 ACTIVITIES OF SANIAGA SACCO.
To achieve its pre-set goals, SANIAGA SACCO, it will engage in the following activities: -
a) To receive membership fees, shares, and savings from members and provide loans among themselves.
b) To provide concessional loans to members who apply for such credits.
c) To educate members to develop habits of savings and deposits in order to avoid unnecessary use among the members and using loans given wisely.
d) To set up profit rates on shares, savings and loans to members that will meet operating costs for the SACCO and provide benefits to the members.
e) To encourage entrepreneurs who are not-members to join the Cooperative.
f) To give opportunity to the public to keep their savings for their own benefits.
g) To create enough capital for running the SACCO.
h) To reserve money for various investments after completion of giving loans to its members.
i) To plan an effective mechanism for maintenance and protection of funds to its members against loss.
j) To enable members to use and maintain good money habits for their investments.
k) To plan appropriate procedures for requirements for training, education and Cooperative education for SACCO members and leaders.
l) To buy shares or invest in financial bodies (Projects) for the purpose of raising revenue.
m) To get loans and grants from foreign institutions to increase members income.
n) To design good procedures of dissemination of information on the activities of the Cooperative (SACCO) to members and non- members in order of increasing new members.
o) To do other lawful activities for the benefit of its members and the welfare of SACCO.
3.0 AUTHORITY OF SANIAGA SACCO.
a) To deliberately work and take any action for fulfilling the purposes mentioned in these conditions.
b) To contract loans among members and to control loan refunds for the member who does not pay the loan on time.
c) To sue and be sued.
d) To own long-term and short-term properties.
e) To enter into contracts that has benefits to members and SACCO itself.
4.0 FEATURES OF A MEMBER.
a) Be a person who has reached the age of 18.
b) Should have a good approach with his/her colleagues
c) Be faithful, honest, honorable to his/her colleagues.
d) Have an interest to his/her development and the community.
e) Have a behavior of participating in activities of this SACCO and attend all related sessions.
f) Should agree and fully observe the laws of the Cooperative and these terms.
g) Be a citizen of Kenya.
h) Should pay the admission fees, shares and other contributions approved by the Corporation. i) Should agree to follow these laws in full and the Laws of Cooperative Societies - Kenya.
5.0 MEMBERSHIP.
There will be two types of membership in this SACCO.
a) Founder Members.
These are all those who have participated in approving this Constitution and that their names will be written in the application form. They are entitled to life membership.
b) New members.
These are all those members who joined the Cooperative after registration.
6.0 PROCEDURES FOR JOINING THE SACCO.
New applicants shall have to follow the following procedures: -
a) Will send their joining application by sending a formal letter to the SACCO's leadership through SACCO's secretary.
b) The applicant shall buy a special form to apply for membership.
c) Fully filled Form shall be returned to the Secretary of the Corporation for consideration by the Executive Committee (Board of SACCO).
d) The General Meeting will determine the application of a new member.
e) Each member shall submit three passport size photographs for identity and ledger.
f) Endorsed member to the Association shall be obliged to pay an admission fee and at least one share in accordance with the standards organized by the General Meeting at that particular time and completes the remaining fees in the past twelve months.
g) All members will be filled their information into the Members Registration Book.
7.0 CESSATION OF MEMBERSHIP.
Membership will cease after one of the following things happens: -
a) Death.
b) A member takes all his/her shares from the SACCO.
c) Resignation after giving a written notice to the Management Board.
d) Get illness/disease which will hinder him/her to exercise this cooperative's activities to the fullest.
e) Loss of Association alliances.
f) Not practicing cooperative activities for 3 consecutive months without acceptable reasons. g) The expulsion of a member by the General Meeting by Members not less than three-quarter of all members after been given the opportunity to defend him/herself.
h) Bankruptcy of Association.
i) Having moved away from the area of the activities of the Corporation.
8.0 SUSPENSION OF MEMBERSHIP.
A Member will be suspended if: -
a) Not attending three consecutive meetings without any written notice made and accepted by this Cooperative.
b) Non adherence of procedures made by SACCO in accordance with these Terms.
c) Failure to pay for Shares, Loan according to the time agreed without acceptable reason.
d) Not contributing to reserves in accordance with these terms and conditions.
e) Lack of trustworthy.
f) Perform any action that BOARD OF SACCO will satisfies itself that it's not being faithful or contrary to the purpose of this Cooperative.
9.0 ACTIONS FOLLOWED BEFORE TERMINATION OF MEMBERSHIP.
a) Warning in writing.
b) Charged of compensation to be determined by this SACCO according to his liability.
c) Suspension from leadership/membership while awaiting the decision of the General Meeting.
10.0 TERMINATION OF MEMBERSHIP.
Membership will be terminated if: -
a) The member will repeat a mistake/s after being warned, or oppose the punishment bestowed by SACCO, the membership will be terminated in the Annual General Meeting by a ¾ vote of the members who participated, provided that he/she is willing and is given a chance to defend him/herself.
11.0 RESTORATION OF MEMBERSHIP.
a) A member that has resigned or expelled from its membership may join again this Cooperative proven that the reasons that made him/her left the membership is no longer existing and will not happen again.
b) The General Meeting shall have the authority to restore the member who has corrected him/herself.
12.0 RIGHTS OF THE MEMBER.
a) To elect or be elected as a member/leader of SACCO.
b) Give his/her opinions.
c) Get a loan with all the amenities of SACCO.
d) Understanding and maintaining of cooperative property.
e) Setting up shares, savings, deposits and take a loan within SACCO in accordance with these terms and conditions.
f) To guarantee for a fellow member when applying for a loan.
g) To get information regarding the trends of this SACCO.
h) To apply for an emergency general meeting in accordance with the relevant procedures.
i) To be given an identity card number and all the equipment in use of SACCO.
j) To get surplus share dividends accordingly.
k) To choose the heir/s as well as changing the name of an heir.
l) To participate in the making of the cooperative's Constitution and its amendments.
m) Owning these conditions.
n) To defend him/herself when given the opportunity by the General Meeting.
o) To sell shares to an existing member incase of a fall out.
13.0 RIGHTS OF A RESIGNED/TERMINATED MEMBER
The member is entitled to: -
a) Will be allowed to sell shares to a member of the SACCO as per their own modalities.
b) Will be given the profit part made to the day of resigning.
c) Will be given the part deserved of the value of investments made in the period of his/her membership.
d) These payments shall be made not later than 90 days from the day of the event, under the supervision of the Supervisor from Department of Cooperative or Institution recognized by the Registrar of the Department.
14.0 RIGHTS OF A DEAD MEMBER/HEIR.
A member who has died, his/her heir/s shall have the following rights: -
a) The heirs shall get the same rights as a member who has resigned for membership.
b) If the deceased will be in debt, his successor will be liable to pay the debt.
c) These payments shall be made not later than 90 days from the day of the event, under the supervision of the Supervisor from Department of Cooperative or Institution recognized by the Registrar of the Department.
15.0 ROLES OF A MEMBER.
a) Attending the meetings he/she is involved.
b) To participate in all activities of the SACCO.
c) Pay the admission fees; buy shares, savings and deposits in accordance with the terms and conditions.
d) Repay the loan in the allotted time.
e) Pay the loan guaranteed if the borrower fails to repay the loan.
f) Obediently and fully observe the laws, regulations and all guidelines of this SACCO.
g) Self-respect between members and leaders.
h) Participate fully in SACCO activities in accordance with these terms and conditions.
16.0 RESPONSIBILITIES OF MEMBERS TERMINATED/RESIGNED/DIED.
a) First, this Member shall pay all losses caused if any.
b) If his/her savings, deposits and shares will not compensate those losses, a specific time will be given to pay in accordance with the decision met by the SACCO leadership.
c) For a member who died, his heirs mentioned shall be liable for it.
d) Those rights shall be paid not more than ninety days (90) since the day of the event, under the supervision of the Department of Cooperatives or an institution ratified by the Registrar of that Department.
17.0 ROLE OF SACCO.
a) No discrimination to members because of their religion, color, location, gender or ethnicity in providing their rights.
b) Creating conducive environment for members to keep savings, deposits, shares and giving loans for economic development and livelihood.
c) Formulating transparent policy for members.
d) To protect conditions of the interests of its members.
e) Seeking new members.
f) Collaborating with other bodies in legal acceptable matters through conditions, policies and procedures of the Corporation.
18.0 ADMISSION.
a) Member must pay an admission fee according to the rate in the period of his acceptance in membership. Admission fee is non refundable.
b) The amount of the admission fee will be made and amended from time to time by the General Meeting.
19.0 SHARES.
a) The amount of shares and the value of one share will be made from time to time by the General Meeting of this SACCO. To begin with, each member should have one share that worth Ksh 2,000 and each member is obliged to have at least five shares (5 shares accounting to Ksh 10,000/-) in total that has to be completed in in the period of six months (6).
b) A member may purchase one share or more at the same time or step by step; and, if will fail to achieve the level of recognized number of shares in the Association in the allotted time, he/she will be suspended if a clear reason for the delay is not communicated. The payments there before made will cater for SACCO damages
c) Prior to such action, the leadership of the Association, the member shall be notified in order to correct him/her or to provide primary reasons that the BOARD will be satisfied.
d) Each member will be given a receipt of the shares and his/her card will be recorded in the books and the ledger.
e) A member who is terminated/stopped/died his/her shares will be deliberated in accordance with the law.
f) No member can withdraw their shares from the SACCO. A leaving member is required to sell them to an interested member of the SACCO for an amount equal to the shares. In witness, one member shall sign the agreement letter before forwarding to the General Meeting. A member can only buy shares of not more than two members.
20.0 RESERVES.
a) Each member must constantly keep savings for future needs.
b) Minimum contribution will be decided by the General Meeting and amended in accordance with policies and procedures at a particular time.
c) Reserves are the criteria that will be considered for getting a loan and will not be given out or reduced frequently as determined by the General Meeting.
d) Level of loan will depend on policies and procedures at a particular time.
e) Time of savings in order a member to qualify for a loan will depend on the policies and procedures at that particular time.
f) Keeping of savings in the Association is the responsibility for each member.
21.0 DEPOSITS.
a) A member may keep the deposit in this SACCO voluntarily at least Ksh 1,000/= per month although he/she can deposit over that rate.
n) Deposits can be taken any time of the working time, when the depositor needs to take it.
22.0 SOURCES OF FUNDING IN SANIAGA SACCO ARE: -
a) Admission fees.
b) Member's Shares.
c) Savings, member's deposits and other citizens who want to keep their deposits.
d) Special contributions, grants or donations.
e) Loans from financial institutions.
f) Profit from loans
g) Penalties.
h) Gains from assets.
i) Other legitimate incomes.
23.1 PROCEDURE OF BANK ACCOUNTS.
a) SACCO will open its bank account and will nominate three members who will manage financial deposits and withdrawals in the bank.
b) SANIAGA SACCO can change signatories as deemed necessary provided that it officially notifies the Registrar of Cooperatives Department about those changes.
23.2 FINANCIAL SECURITY.
a) All funds, save small amounts that are required for Cooperative's minor expenses will be kept in the Bank.
b) There shall be a minimum allowable amount of money in cash that will be set by the BOARD of this Cooperative.
23.3 BORROWING FROM FINANCIAL INSTITUTIONS.
a) SANIAGA SACCO may borrow money from any institution acceptable by its members and certified by the Registrar of Cooperative Societies - Kenya in consideration of the debt limit adopted by the General Meeting.
23.4 MEETINGS.
SANIAGA SACCO will have the following meetings: -
a) Meetings of all Members.
b) Meetings/Sessions of the BOARD.
c) Meetings/Sessions of Small Committees.
24.0. MEETINGS OF ALL MEMBERS
The meetings shall be;
• Annual General Meeting
• Extra ordinary General Meeting.
25.0 ANNUAL GENERAL MEETING.
a) The Cooperative Annual General Meeting shall be held once annually once after the financial wind and availability of an audit report from the Registrar of Cooperative Societies - Kenya
b) This meeting is the final decisive body for SANIAGA SACCO activities.
c) The first general meeting will be convened within not more than two months after the registration of this cooperative.
d) Copies of the Annual General Meeting shall be submitted to Registrar of Cooperative Societies within 7 days after convened.
25.1 DUTIES OF THE ANNUAL GENERAL MEETING.
a) To approve new or expelled members or leaders who went against according to the directions of these conditions.
b) To approve the implementation of the development plans within the cooperative and estimation of revenues and expenditures of the cooperative as well as approving extra dividends and approval of new projects.
c) Setting Limits of debts.
d) Set up the level of operational costs for officials and employees.
e) To discuss performance reports of various committees.
f) To approve various Cooperative policies proposed by the Council.
g) Amend "By Laws" if needs arises.
h) To read and discuss the audit report from an authorized auditor by the Registrar of Cooperatives.
i) Discussing other factors affecting the development of the cooperative in general and provide guidance for strong implementation.
26.0 MEETINGS ATTENDANCE.
a) Cooperative meetings' quorum shall be not less than half (½) of all the members.
b) For the Annual General Meetings, if the quorum will not be met after two and half hours since the scheduled time of the meeting, the meeting shall be adjourned for 1 month. The following meeting shall discuss the same agenda as of the postponed meeting.
c) If the attendance will not meet the quorum again, the members attended may continue with the meeting and resolutions conferred by a number of members not less than half (½) of attendees will be valid.
d) For the meeting convened by members, it can be canceled if the attendance does not reach one third (1/3) of the total number of members. e) For the meeting convened by the Registrar of Cooperative Societies - Kenya, or officer designated by the Registrar, any number of members attending the meeting would be enough to run, and all that decided will be valid and legitimate.
f) All meetings of the Cooperative will be chaired by the Chairperson unless an emergency general meeting convened by the Registrar of Cooperatives where the Chairman shall be a Registrar himself or his representative.
g) If the Chairperson is absent, the Vice Chairperson shall take his place, and if both are absent, the members shall appoint one member among them to chair the meeting.
27.0 SPECIAL GENERAL/EMERGENCY MEETING.
This meeting will take place at any time if it is convened by:
a) Registrar of Cooperative Societies or his representative.
b) On the written request of members not less than one-third (1/3) who were their names and their signatures are listed by the Secretary of this SACCO together and writing the reasons for calling the meeting.
28.0 PROCEDURES FOR CONVENING THE GENERAL MEETING.
a) Procedures for convening the General Meeting will be relayed through announcements, invitation letters or any other appropriate procedures well known and accepted by members.
b) Advertisement, invitations letters, and information will be made available in the following system:
i. Annual General Meeting will be announced 21 days in advance.
ii. Extraordinary General Meeting will be announced in not less than 14 days.
29.0 MEETINGS / BOARD SESSIONS / COUNCILS
a) The Board and sub-committees will usually meet at least once after every four months to discuss the activities / all reports submitted from the cooperative sub-committees as mentioned in the works of the Council in these conditions.
b) The Board will hold its regular meetings once each month.
c) The quorum of the session is ½ of all members.
d) Ad-hoc meeting for the Councils can also be done if there is a need to do so.
30.0 MEETINGS / SUB-COMMITTEES SESSIONS
The subcommittees shall;
a) Advise or recommend to the Council on progress and emerging defects in the cooperative.
b) Sub-committees will usually meet at least every month.
c) Sub-committees will be responsible with presenting their reports to the Executive Council of the Cooperative.
d) Each unit / committee will discuss and organize their work processes, calculation of income and expenditure in accordance with its activities and submit to the Executive Council of the Cooperative.
e) Each committee will elect its Secretary and Chairperson.
30.1 LEADERSHIP.
Leadership structure in this SACCO will be as follows: -
a) General Meeting of the members (as described in section 23 to 28 of these terms).
b) BOARD.
c) Financial Management and Audit Committee (Internal Auditor).
d) Education Committee
e) Credit (Loans) Committee.
30.2 GOVERNING BOARD OF SANIAGA SACCO.
a) Members of the Council (Management Board) will be elected by the General Meeting of all members to lead SACCO.
b) Members shall be not less than seven (9) and no more than 11, including the Chairperson, Secretary, Cashier, and the other members who could take up the Assistant posts.
c) The delegates will stay in power for five 5 years but may be re- elected but not more than 2 consecutive periods.
d) In addition, the BOARD may choose other members from among themselves to lead the SACCO units like: -
• Management and Audit Committee (3 members).
• Credit Committee (3 members).
• Education Committee (3 members).
e) Management Board (Board) may choose Subcommittees other than those mentioned in these provisions as it may deem necessary for the proper performance of the functions of this SACCO.
f) Member of the Board of Management who will fail to attend five consecutive meetings without acceptable reasons can be terminated from his/her responsibilities.
g) Management Board can appoint other member to fill the post left vacant by a member under these terms until the next Annual General Meeting.
31.0 RESPONSIBILITIES OF THE MANAGEMENT BOARD.
a) Prepare procedures and action plans of activities for this cooperative.
b) To monitor the implementation of various cooperative committees every month at least once if possible.
c) To oversee all legal matters related to this cooperative.
d) To provide information for the implementation of cooperative activities in general meeting.
e) To review the implementation of cooperative activities quarterly.
f) Approving of different expenditure rates.
g) Preparing cooperative's budget for the next period.
h) Provide implementation report of the previous period.
i) To build close relationships with members, various institutions and community in general.
j) To take opinions of members and work on it.
k) Ensure that all committees fulfill their duties with integrity and honesty.
l) To ensure that cooperative properties and equipment are stored well and are used effectively.
m) Give compliments and penalties on loans.
n) Ensure that creditors pay their debts as promised and take appropriate measures for dishonest creditors and recommend to the General Meeting the possibility of waiving of bad loans that can not be totally repaid.
o) Submitting the income and expenditures accounts with audited balance sheet in the annual general meeting.
31.1 RESPONSIBILITIES OF THE CREDIT COMMITTEE.
a) To receive loan applications.
b) Consider and approve or reject all loans applications.
c) Determine the extent of loan eligibility to a member requesting a loan in accordance with the subscription of Shares, Savings and Deposits.
d) Provide information / data on the provision of loans to SACCO Board and the Management and Audit Committee.
e) To monitor the restoration of loans issued to members.
f) To encourage members to create a culture of savings regularly, borrow wisely and repay the loans on time.
g) Take measures related to chronic debtors / troublemakers.
h) All records done by this committee should be kept in writing.
i) Implement the Credit Policy in full.
31.2 RESPONSIBILITIES OF THE EDUCATION COMMITTEE.
a) Provide cooperative education for members and staff in general.
b) Prepare a training program for targeted groups and evaluating the implementation of the program.
c) Seek opportunities to study in and out of the country for the leaders, members and staff.
d) To collaborate with various institutions with the purpose of building capacity for SACCO members.
e) To identify the education/ training needs required for members, leaders and staff in general. f) To prepare training program and submitting them to the board concerned board (Central Board) in time.
31.3 MANAGEMENT AND AUDIT COMMITTEE.
Its members will come out of the leadership pool and will be answerable to the members in consultation with the Central Board.
31.4 FUNCTIONS OF MANAGEMENT AND AUDIT COMMITTEE.
a) Supervise the implementation of all activities of the Cooperative.
b) To ensure that the Board, the Committee and all SACCO executives are doing their jobs in accordance with the laws (bye- laws) and cooperative codes.
c) To ensure that the account books and other records are written accordingly.
d) To inspect the account books of the Association and provide feedbacks.
e) Ensure that all projects requested for loans are implemented in accordance with law.
32.0 ELECTION OF LEADERS.
SANIAGA SACCO leadership will be appointed in the General Meeting by the following procedures: -
a) Candidates should fill special application form to run for leadership.
b) The names of the candidates will be listed and presented before the General Meeting.
c) Each candidate will express him/herself before the General Meeting.
d) There shall be a Special Election Committee proposed by members.
e) Fully filled forms by the candidates will be filtered by the election committee nominated by the Annual General Meeting.
f) The committee will be elected at the session of all members.
g) After the election results announced, elected leaders will be sworn in before the General Meeting of all members prior to assumption of their responsibilities.
32.1 QUALITIES OF A LEADER.
a) The leader in this Cooperative is to be a person of desire of the Cooperative and moral in hard working, encourage opinions, with self-respect and respect other people with honor.
b) Should be able to read, at least Kiswahili language fluently, and write words and numbers correctly.
32.3 THE ELECTION COMMITTEE:
The election committee will be as follows: -
a) Members not more than 3 people who will be elected by the members at the Annual General Meeting and who are not among those who filled in forms.
b) Relevant officer of the Corporative shall be the General Manager of the election activities.
32.4 FUNCTIONS OF THE ELECTION COMMITTEE:
a) To receive and coordinate application forms for leadership.
b) Arrange the electoral procedures.
c) Supervise all election activities as well as announcing the winners.
d) This committee shall cease to operate once after completion of the relevant electoral process ended.
33.0 LEADERS RESPONSIBILITIES.
Chairperson
a) He will direct and manage all aspects of SACCO (Managing Director of SACCO)
b) He will direct all meetings of the Board and General Meeting.
c) He will sign all minutes of the meetings after authorized by members.
d) Convening meetings.
e) Represent SACCO in various places and be the speaker on behalf of members.
f) To provide a link between the Committee and Council, and also between the Committees and Members.
II) Deputy Chairperson.
a) Assist the Chairman of SACCO in performing his official duties effectively as the Chairman directed in writings.
b) Acting the post and the roles of Chairperson, in all occasions when the Chairperson is absent.
III) The Secretary-General.
a) Keep all Cooperative records, tools and equipment, as well as overseeing the implementation of these regulations.
b) He is the chief executive of the Cooperative activities.
c) He will make sure that all activities are carried out in accordance with these terms and conditions.
d) He will sign all minutes of the meetings after approval by the members.
e) He will manage the implementation of these regulations.
f) He will make sure that all activities are done in accordance with these terms and conditions.
IV) Assistant Secretary General.
a) Assist the Secretary of SACCO in implementing his/her office responsibilities efficiently as the Secretary explained in writing.
b) Acting the post and all the roles and responsibilities of the Secretary when the Secretary is not at the office.
c) All official handing over of the General Secretary and his Deputy shall be made in writing.
V) Cashier.
a) He will record and keep all income and expenditure records.
b) Prepare report of income and expenditures for every month, three months, six months or a year and submit them to the relevant sessions of the Council and General Meeting.
c) Shall cooperate with Internal and External Auditors in order to achieve the auditing exercise for the SACCO.
d) He will make all payments after obtaining a special permit from the Executive Board or of the Credit Committee.
e) He shall receive all incoming cooperative money and make a comparison of the funds received and paid out every day.
f) Shall create a list of debtors in every month to be submitted to the Board / Executive Committee and Credit Committee who will make the decisions about what action to take on members who delay their debts over three (3) months.
g) To assist members in filling their loan applications forms and submit to the Credit Committee for consideration.
h) He shall take care of all account books and all money related records.
i) To follow all the financial principles and book keepings.
j) Ensure that annual financial reports are done within December of each year.
VI) Assistant Cashier.
a) Supporting the Cashier of SACCO in implementing his official responsibilities effectively as directed by the finance holder.
b) Acting all the roles and responsibilities of the office when the Cashier is absent.
c) All of the official extraditions between the Cashier and Assistant Cashier must be in writing.
34.0 QUALITIES OF A LEADER.
a) The leaders of this cooperative must meet the features of a member in article 14.0.
b) Be able to read and write words and numbers of the Cooperative activities.
35. LEADERSHIP STRUCTURE
General Meeting for all members |
Management and Audit committee. |
Executive Committee / Management Board. |
36.0 ADDITIONAL ALLOCATIONS.
Excess realized in the ended year within the SACCO, will be given its recommendations in the annual general meeting as follows: -
a) 50% - for members' dividends.
b) 15% - for a package of Education.
c) 15% - For cooperative Savings Association.
d) 10% - for members' savings.
e) 10% - For well performed creditors
37.0 AUDITING.
a) SACCO accounts shall be audited at least once in a year by the auditor, legally recognized by the Registrar of Cooperative Societies or someone permitted by the Registrar.
b) SACCO will pay itself the Audit fees.
c) The audit report will be read at the annual general meeting.
d) The financial year of the cooperative will be starting in January and ending in the month of December of each year.
38.0 LAW AMENDMENTS.
a) SACCO may make amendments to some provisions according to changes in economic and social situations as needs emerge.
b) All amendments must obtain the approval of all members through the Annual General Meeting and also get the approval of Registrar of Cooperative.
39.0 THE COOPERATIVE SEAL.
a) Saniaga Cooperative will have its seal containing the name of the Cooperative.
b) This seal shall be kept securely and will be used only by protagonists who signed the documents on behalf of the Cooperative.
c) It is an offense for a person who is not responsible for using these materials, to use without the consent of the officials concerned and for non-acceptable use by the Cooperatives.
40.0 CONFLICTS.
a) When conflicts arise the BOARD will take care in finding the solution, if it fails it will send it to the Registrar of Cooperative Societies, if it fails it will be sent to the Court of law.
41.0 WINDING UP AND CANCELLATION OF THE SACCO.
SANIAGA SACCO can be winded up due to the following reasons: -
a) Number of members if it reduced and remain under five.
b) Applications of three-quarters (¾) of all members if will apply officially to Registrar of Cooperatives
c) Registrar of Cooperative Societies is satisfied that the cooperative has failed to start or continue with its activities or has gone against the rules of the cooperative.
d) All activities of winding up and cancellation of the cooperative will be overseen by Registrar of Cooperative Societies and according to the law.
42.0 OTHER.
a) If the member's book gets lost, a written notice should be made to the Cashier where leadership may approve for a new book at member's costs.
b) SACCO will make sure that funds of the society are used for their intended purposes and all expenses will be approved by the responsible person.
c) SANIAGA SACCO can join with other Primary Cooperative or Main Cooperative Association of Savings and Credit if there is a need to do so with the aim of developing commitment to the provision of better financial services to the members at low cost and without complications.
43.0 RECONCILIATION.
THESE TERMS AND CONDITIONS HAVE BEEN DISCUSSED AND APPROVED BY ALL MEMBERS IN THE GENERAL MEETING OF SANIAGA CBO HELD ON 29/12/2018 AND THE FOLLOWING LEADERS, BY PUTING THEIR SIGNATURES ASSENT ON BEHALF OF THE COOPERATIVE.
| | NAME | POSITION | ID NO | SIGN | DATE |
| 1 | | | | | |
| 2 | | | | | |
| 3 | | | | | |
| 4 | | | | | |
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