The membership shall be voluntarily and available to all eligible persons that is individual producers and producer institutions who can participate or avail of the facilities or services of the company, and are willing to accept the duties of membership.
A Producer Institution who fulfils eligibility conditions under the provisions of these Articles may apply for membership in the prescribed form to the Board of the Producer Company undertaking to carry out the responsibilities of membership in writing.Qualifications for Obtaining Membership: A producer desirous of becoming a member shall subscribe at least one share or producer institutions should subscribe at least 10 (ten) shares to the Producer Company. Each share value is Rs. 1,000/-
Shares of the producer company shall be issued only to individual producers or producer institutions.
PROVISIONS FOR SPECIAL USER RIGHTS
The Board of the Producer Company may from time to time, based on measurable criteria, issue special user rights valid for a specific duration to the active members, to promote the business interests of the Producer Company. Such user rights shall be issued in the form of appropriate instruments.
The instruments so issued shall, subject to the approval of the Board in that behalf, be transferable to any other active member of the Producer Company.
BENEFITS OF MEMBERS:
(1) Every Member shall initially receive only such value for the produces supplied to the Producer Company as the Board may determine, and the withheld price may be disbursed at a later date during the financial year, in cash or in kind or by allotment of equity shares, in proportion to the value of various produces supplied to the Producer Company to such extent and in such manner and subject to such conditions as may be decided by the Board.(2) The surplus, if any, arising after setting aside provision for payment of limited return and after making provisions may be disbursed as patronage bonus amongst the Members, in proportion to their participation in the business of the Producer Company, either in cash or by way of allotment of equity share or both, as may be decided by the Board.