MEMBERSHIP RULES
An institutional member shall cease to be member of the company if:a) The member is adjudged as insolvent,b) A member goes into liquidation or winding up proceeding are initiated against it,c) A member fails to pay subscription within three months of the same becoming due to the company,d) If such member is expelled from the company by the board for being found guilty of misconduct/ violation of the rules of the company or violation of the association’s working code of practice or is guilty of an act which is detrimental to the interest of the company or for furnishing wrong particulars for obtaining admission to the membership of the company, after affording the member a reasonable opportunity of being hearde) On his death,f) On his becoming of unsound mind,g) On his tendering the resignation.h) A member may request to terminate his or her membership. No refunds of membership fees or other donations can be claimed at any time by such member. i) In case of an authorized representative death, termination, cessation, disqualification of the member as specified in clauses (a) to (h).j) The cessation of membership shall be subject to confirmation at a meeting of the members and subject to any relaxation that the Board of Directors may decide to condone any of the above defaults or considerations for a temporary period of time as may be fixed.EXPULSIONThe Company reserves to itself the right to expel any member on recommendation of the Board of Directors in case the member commits any act openly or covertly or pursues any conduct that is directly or indirectly in contravention of the Articles of Association and/or the association’s working code of practice or is detrimental to its prestige or for any other reason considered to be good and sufficient and if it is deemed necessary and/or desirable to expel it from the membership provided that any proposal for expulsion of a Member shall be carried by a resolution at a General Meeting of the Company.