Sacco by Laws

BY-LAWS BUNYORO SUGARCANE OUTGROWERS FARMERS SAVING AND CREDIT
COOPERATIVE SOCIETY LIMITED [SACCO], UGANDA

This document contains the bylaws of BUNYORO SUGARCANE OUTGROWERS
FARMERS SAVING AND CREDIT COOPERATIVE SOCIETY LIMITED [SACCO]. The bylaws
outline the society’s name, objectives, membership qualifications and obligations,
organizational structure ,financial management practices and dispute resolution.
Key aspects include electing a board of directors to oversee operations, requiring
members to purchase shares, outlining processes for applying for and repaying
loans to members and establishing committees to manage areas like credit, finance
and supervision. The bylaws are intended to govern the society in accordance with
the cooperative societies Act.
BY-LAWS
Registration No:……………………………………………………
BY-LAWS
Registration No:…………………………………………………………
P.O.BOX:………………………………………………………………….
Kampala- Uganda
NOVEMBER 2024
TEBLE OF CONTENTS
S/ DESCRIPTION PAGES
No.
Preamble 7
Future Benefits of the BUNYORO SUGAR CANE OUTGROWERS 7
SACCO
Vision 7
Mission 7
1. APPLICABLE LAW, NAME,PURPOSE ANDDOMICILE 8
2. REGISTERED OFFICE / EMAIL ADRESS 8
3. DEFINATIONS AND INTERPRETATIONS 8
4. OBJECTIVES 11
5. COOPERATIVE PRINCIPLES AND VALUES 13
[5.1] PRINCIPLES 13
[5.2] VALUES 14
6. NET WORTH,SHARE CAPITAL AND INSTITUTIONAL CAPITAL 14
7. RESTRICTION TO SHARE HOLDING 14
8. SCALE DOWN AND REINTEGRATION OF THE SHARE VALUE 14
9. TRANSFER OF SHARES 14
10. OTHER ECONOMIC RESOURCES 15
11. MEMBERSHIP 16
12. QUALIFICATION FOR MEMBERSHIP 16
13. APPLIOCATION FOR MEMBERSHIP 16
14. ADMISSION INTO MEMBERSHIP 16
15. REFUSAL OF ADMISSION 17
16. RIGHTS OF MEMBERS 17
17. OBLIGATIONS OF MEMBERS 17
18. MEMBER’S PERSONAL STATEMENT 18
19. CESSATION OF MEMBERSHIP 18
20. SUSPENSION 18
21. PROCEDURE OF SUSPENSION AND EXPULSION 19
22. WITHDRAWAL FROM SOCIETY 19
23. PAYMENT ON CESSATION OF MEMBERSHIP 19
24. NOMINEE 20
25. PAYMENT TO NOMINEE 20
26. ADMISSION OF NOMINEE 20
27. FUNDS OF THE SOCIETY 20
28. SHARES 21
29. LIABILITY OF MEMBERS 21
30. POWER TO BORROW 21
31. RECEIPTING OF MONEY 22
32. PAYMENT / DISBURSEMENT 22
33. RESERVE FUND 22
34. GENERAL MEETING 22
35. DUTIES OF GENERAL MEETINGS 23
36. RECORD OF BUSINESS 24
37. NOTICE OF MEETINGS 24
38. QUORUM 25
39. ELECTION OF DELEGATES 25
39.1 ELECTORAL ZONES AND BRANCHES 25
39.2 ELIGIBILITY FOR ELECTION AS ADELEGATE 25
39.3 DUTIES AND RESPONSIBILITIES OF DELEGATES 27
40. THE BOARD OF DIRECTORS 28
40.I ELIGIBILITY OF BOARD OF MEMBERS AND SUPERVISORY 28
COMMITEE
40.2 NOMINATION AND VETTING COMMITTEE 29
40.3 ELECTION OF BOARD OF DIRECTORS AND SUPERVISORY 30
COMMITTEE
41. BOARD OF DIRECTORS MEETINGS 30
42. RECORD OF BUSINESS OF THE BOARD OF DIRECTORS 30
43. DUTIES AND POWERS OF THE BOARD 31
44. EXPENDITURS 32
45. DELEGATION TO EMPLOYEES 32
46. INDEMNITY 33
47. DECLARATION OF WEALTH 33
48. LEGAL STANDARD OF CARE 33
49. SUSPENSION FROM THE BOARD 33
50. REMOVAL FROM THE BOARD 33
51. BOARD CHAIRMAN AND VICE CHAIRMAN 34
52. HONORARY SECRETARY 34
53. TREASURER 34
54. BOARD COMMITTEES 35
55. FINANCE AND ADMINISTRATION COMMITTEE 36
56. BUSINESS DEVELOPMENT AND EDUCATION COMMITTEE 37
57. CREDIT COMMITTEE 38
58. AUDIT AND RISK COMMITTEE 38
59. SUPERVISORY COMMITTEE 39
60. DUTIES OF THE SUPERVISORY COMMITTEE 39
61. THE CHIEF EXECTIVE OFFICER 40
62. DUTIES OF THE CHIEF EXECTIVE OFFICER 41
63. BOOKS OF ACCOUNTS AND RECORDS 42
64. REGULATIONS 43
65. AUTHORIZATION TO SIGN DOCUMENTS 43
66. FINANCIAL YEAR 43
67. DISPOSAL OF SURPLUS FUNDS 43
68. LOANS TO MEMBERS 44
69. APPLICATION FOR LOANS 44
70. LOAN GRANTING 44
71. SECURITY FOR LOANS 45

72. REPAYMENT OF LOANS 45
73. RE-FINANCING OF LOANS 45
74. LOANS AS AN ITEM OF THE AGENDA 46
75. CASH RESERVE 47
76. COMMON SEAL 47
77. FINES 47
78. DISPUTES 47
79. MISCELLANEOUS 48
80. INSPECTION OF DOCUMENTS 48
81. DISSOLUTION 49
82. AMENDMENT OF BY-LAWS 49
83. ACCEPTANCE 49
OFFICIAL CERTIFICATION 49
SHEDULE FORM 1
THE COOPERATIVE SOCIETIES REGULATIONS 2020
TO THE REGISTRAR OF COOPERATIVE SOCIETIES
P.O.BOX 7103, KAMPALA
Dear Sir,
APPLICATION FOR REGISTRATION OF A COOPERATIVE SOCIETY

We, the undersigned, hereby apply that the society, the particulars of which are set
out hereunder, be registered as a cooperative societies [amendment] act 2020
1) 1)Name of the society: BUNYORO SUGARCANE OUTGROWERS FARMERS
SAVING AND CREDIT COOPERATIVE SOCIETY LIMITED [BUNYORO SUGARCANE
OUTGROWERS FARMERS -SACCO]-[BUSOFA-SACCO].
2) Address of the society of purposes of registration
P.O.BOX……………………………..., KAMPALA
Notice of any change of address shall be given to the registrar of cooperative
societies hereinafter referred to as “Registrar’’ and to all members of the
society.
3) Area of operation : UGANDA

4) Type of society : SAVING AND CREDIT COOPERATIVE
5) Whether limited or unlimited liability : LIMITED
6) Language and character in which the books and accounts of the society will
be kept : ENGLISH
7) Name of person appointed to be the secretary of the society pending 1 st
Annual General Meeting :WAMANI HARMPRY.
We attach true copies of the proposed By-Laws of the Society in English

signed:

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BY-LAWS BUNYORO SUGARCANE OUTGROWERS FARMERS SAVING AND CREDIT

COOPERATIVE SOCIETY LIMITED [SACCO], UGANDA

71. SECURITY FOR LOANS 45

APPLICATION FOR REGISTRATION OF A COOPERATIVE SOCIETY

3) Area of operation : UGANDA

We attach true copies of the proposed By-Laws of the Society in English

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