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MEANING OF COMEANING OF CO--OPERATIVEOPERATIVESOCIETYSOCIETY

Co-operative society means working together.

So, those who want to work together with same

common economic objective, can form a society

which is termed as co-operative society. It is avoluntary associate of person who work together

to promote their economic interest.

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CHARACTERISTICS OF COCHARACTERISTICS OF CO--OPERATIVE SOCIETYOPERATIVE SOCIETY

Open membership

Voluntary association

State control

Sources of finance

Democratic Management Service motive

Separate legal entity

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ADVANTAGE OF COADVANTAGE OF CO--OPERATIVE SOCIETYOPERATIVE SOCIETY

Easy formation

Open membership

Democratic control

Limited liability

Elimination of middlemen profit

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DISDIS--ADVANTAGES OF COADVANTAGES OF CO--OPERATIVE SOCIETYOPERATIVE SOCIETY

Limited capital

Problem in management

Lack of motivation

Lack of co-operation

Dependence on government

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TYPES OF COTYPES OF CO--OPERATIVESOPERATIVES

1. AGRICULTURAL CO-OPERATIVES

2. WORKERS CO-OPERATIVES

3 CONSUMER CO-OPERATIVES

4 CREDIT UNIONS

5 RETAIL OR PURCHASING CO-OPERATIVES

6 UTILITY CO-OPERATIVES

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7 STUDENT CO-OPERATIVES

8 INSURANCE CO-OPERATIVES

9. BUSINESS AND EMPLOYMENT CO-OPERATIVES

10. HOUSING CO-OPERATIVES

11. ARTS AND CRAFTS CO-OPERATIVES

12. CO-OPERATIVE WHOLESALE SOCIETY

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A GUIDE TO THE REGISTRATIONA GUIDE TO THE REGISTRATIONOF COOF CO--OPERATIVE SOCIETIESOPERATIVE SOCIETIES

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MEMBERSHIPMEMBERSHIP

In order to be qualified for membership of a Co-operative Society, a person

must:-

(a) have attained the age of 18 years;

(b) be resident within or in occupation of land within the societys area of

operation as described by the by-laws of the society.

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HOW TO APPLY FORHOW TO APPLY FORREGISTRATION ?REGISTRATION ?

To complete and submit an application to the Registrar of Co-

operative Societies.

To submit 3 copies of the proposed by-laws.

Registration is free of charge

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CONDITIONCONDITIONFORFOR

REGISTRATIONREGISTRATION

1 A society shall consist of a minimum 10 persons, except in case of lift

irrigation society where the minimum number is five and maximum is ten.

2 Each member must be member from different family.

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REFUSAL OF REGISTRATIONREFUSAL OF REGISTRATION

The society does not comply with the condition laid down in the

act.

The society fails to furnish the information as required.

If the registrar is of the opinion that registration of such society will

adversely effect the development of co-operative movement

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CANCELLATION OFCANCELLATION OFREGISTRATIONREGISTRATION

If the society transfer the whole of its assets and liabilities to anothersociety

It amalgamates with another society

It divides it self into two or more societies

It is registered

If its affairs are wound up

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TYPES OF MEMBERSHIP OF CO-OPERATIVE SOCIETY

Associate Members

Solutions Members

Enterprise Members

Strategic Members

Committer Members

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SECRETARY OF CO-

OPERATIVE SOCIETY

SECRETARY OF CO-OPERATIVE SOCIETY NEEDS ALL

NORMAL QUALIFICATIONS AND QUALITIES OF A

SECRETARY. THIS MEANS HE NEEDS PROPER

EDUCATIONS,KNOWLEDGE OF WORKING OF CO

-OPERATIVE ORGANISATION.

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DUTIES AND RESPONSIBILITY OFA OF CO-OPERATIVE

SECRETARY.

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TOWARDS OFFICEADMINISTRATION

TO HANDLE CORRESPONDENCE WORK AND MAINTAIN

AN EFFICIENT FILING SYSTEM

TO BRING PROPER CO-ORDINATION OF OFFICE WORK

IN SOCIETY

TO MAINTAIN HIGH DEGREE OF EFFICIENCY IN THE

ENTIRE WORK

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TOWARDS ACCOUNTS

TO SEE THAT ALL BUSINESS TRANSACTIONS ARERECORDED NEATLYAND CORRECTLY IN BOOKS OF

ACCOUNTS

TO SEE ALL TRANSACTIONS ARE ROUTED IN BANKSAND ACCOUNTS ARE PROPERLY

TO TAKE DECISION REGARDINGS BORROWINGS,INVESTMENTS ETC

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TOWARDS MEETINGS

TO FIX THE DATE OF AGM , MCM IN CONSULTANTS OF

CHAIRMAN

TO ISSUE NOTICE, AGENDA IN MEETINGS

TO KEEPS VARIOUS FILES AND DOCUMENTS REQUIRED

IN MEETINGS

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IMPORTANT FEATURE:-

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THE ACT OF 1904 WAS FOUND

INSUFFICIENT BECAUSE

1) NO RECOGNITION.

2) NO PROVISION.

3) PROHIBITION OF DISTRIBUTION.

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CO-OPERATIVE SOCIETIESACT,1912

Registration of society

Societies which may be registered

Who can form a society

Restrictions on society with limited liability

Amendment of bye-laws

Rights and liabilities of members

Management of society

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Registered society is body corporate

Priority claim of society dues from member

Liability of post member

Restrictions on loans

Inspection of affairs of society

Dissolution of society

Companies act not applicable

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MAHARASHTRA STATE CO-

OPERATIVE SOCIETIESACT,1960.

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In Maharashtra the Co-operatives are governed by the

Maharashtra Co-operative Societies Act 1960 and supported

by Maharashtra Co-operative Societies Rules, 1961

Moreover each co-operative should have its own Bye-Laws

which are the guiding principles of the co-operative. These Bye-

laws have to be approved through a resolution of the Society

The only condition on the bye-laws is that they should not be

contrary to the Maharashtra Co-operative Societies Act

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THE LEGAL FRAMEWORKESSENTIALLY COVERS THE

FOLLOWING ASPECTS:

Registration of Co-operative Societies

Rights of members

Property and funds of the society

Audit, inquiry and inspection

Disputes

Liquidation of societies

Offences and penalties

Appeals.

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