cooperative society

Kinds of multi state cooperative societies and guidelines: - A multi state cooperative society is of various types- Credit, Housing, Agriculture, Transportation, Hospital, Sugar, Stores, Fishery, Handloom, Labor, Consumer and Multi Purpose Co-operative Society. The fundamental formalities for forming this society is to arrange at least 50 members from two states each.

Function of Governing Body Members of Multi State:-. As far the interim management committee list is worried who are accountable for the management and handling of the society, the society must minimum 7 members and this list can go upto 21 members. After the 97th Constitutional Change Act 2011 from February 2013, it is compulsory to keep 2 women and 1 extra member who belongs to Scheduled Caste or to Scheduled People in the major governing body list. Till today, there are 900-950 Multi State Cooperative Societies out of which maximum are credit. The governing body members take part in yearly basic body conferences, special general body conferences, resolutions, notice, quorums etc . Just for example in a credit cooperative society, if the society wants to make any scheme like gold loan, automobile loan, dealt with deposit loan, double deposit strategy, triple deposit plan or any unique plan, the society needs to give a prior 15 days observe to all its members by rate post, paper publication etc. After 15 days, the general body meeting is carried out. If the quorum is one-fifth of the total members present and ballot throughout the resolution, the conference can just happen. The trademarks of the governing body members in addition to ordinary members present and voting are absorbed the minutes book and maintained for future records. The special basic body conference can be performed by offering a notification of at least 7 days. A society should perform at least 4 basic body conferences in every financial year. In every monetary year, the society ought to employ a chartered accountant in a general body conference by passing a resolution. This CA looks after the accounts of the society and submits the account and income tax return. The societies other than Credit, Housing and Multi Function can collect cash from its members on the basis of shared allotment and advance. They can offer dividends to their members on shares and commissions on advance.

Reputation: 0 pts

Exp: 16 years

Active since October, 2019

Reputation: 0 pts

Exp: 20 years

Active since October, 2019