Before you apply for membership
- Membership is by written application in Form I (individuals) or Form II (co-operative societies) under Bye-law 5. The Board of Directors decides every application and may refuse it in whole or in part. You become a member only after the Board admits you.
- Each share is ₹100, paid in full with the application (Bye-law 11). Individual members hold at least 10 shares. An application fee of ₹5 and an admission fee of ₹20 are payable and are not refundable (Bye-law 5).
- Lock-in: shares cannot be withdrawn or transferred until they have been held for 10 years. If a share is withdrawn earlier, 25% of the amount is deducted by the society (Bye-law 12(ii)).
- Shares are not a deposit, a savings scheme or an investment product. They carry no assured or promised return. Any dividend is decided only by the General Body out of net profit, as the Act and the Bye-laws allow.
- Pay share money and fees only into the society's own bank account, against an official receipt from the head office. Never pay through WhatsApp, in cash to an agent or to any individual.
The form below only asks the member desk to contact you. It is not an application for shares. For Form I or Form II, contact the head office, NEMSICS Bhawan, Jorhat.