The Government of Karnataka on 5 October, 2021 has issued the the Karnataka Co-operative Societies (Amendment) Act, 2021. The amendment has restructured the membership pattern of the Co-operative Societies to provide that If any person is found to be a member or continuing as member in two or more co-operative societies carrying similar business, it shall be obligatory on his part to retain membership in any one society of his choice within a period of ninety days from the date of commencement of the Karnataka Co-operative Societies (Amendment) Act, 2021. If he fails to do so, his membership shall be deemed to have been ceased in the Co-operative society to which he is newly admitted.
In any cooperative society, no member other than the Government, or any other cooperative society with the previous sanction of the state Government, the State Warehousing Corporation or Zilla Panchayath constituted under the Karnataka Gram Swaraj and Panchayat Raj Act, 1993 or any statutory or non-statutory board, committee or corporation shall hold more than such portion of the total share capital of the society not exceeding five percent thereof as may be prescribed.
