multi state cooperative society

Management of a Multi State Cooperative Society: -. No part of the funds, other than net profits of a multi state cooperative society act shall be divided by means of reward or dividend or otherwise distributed among its members. In case of multi state cooperative societies which do not have share capital, the surplus of income over expenditure should not be treated as net revenues and such surplus will be dealt with in accordance with the bye-laws. A multi state cooperative society shall, out of its net earnings in any year move an amount not less than twenty-five percent to the reserve fund, credit one percent to cooperative academic training fund kept by the National Co-operative Union of India Limited, New Delhi or transfer a quantity not less than 10 percent to a reserve fund for conference unanticipated losses. Time Taken for registration: -. Generally, the maximum period for a multi state cooperative society registration is 4 months. In case, the application receives an...

multi state cooperative society shall be divided by way of perk or dividend or otherwise distributed among its members. In case of multi state cooperative societies which do not have share capital, the surplus of earnings over expenditure should not be treated as net earnings and such surplus shall be dealt with in accordance with the bye-laws. A multi state cooperative society shall, out of its net earnings in any year move an amount not less than twenty-five percent to the reserve fund, credit one percent to cooperative education fund preserved by the National Co-operative Union of India Limited, New Delhi or transfer a quantity not less than ten percent to a reserve fund for meeting unexpected losses. Time Considered registration: -. Normally, the optimal time period for a multi state cooperative society registration is 4 months. In case, the application gets an objection, because case, the application can be submitted once more and in certain conditions, the society registra...

A multi state cooperative society is registered from the center i.e. Delhi. The co-agent castes, with articles not kept to one state and serving the pastimes of parts in more than one state for social and financial improvement of its parts with self renovation and common help as per the co-agent standards are recognized as Multi State Cooperative Societies. Types of multi state cooperative societies and requirements: - A multi state cooperative society is of different kinds- Credit, Housing, Farming, Transport, Hospital, Sugar, Stores, Fishery, Handloom, Labor, Consumer and Multi Function Co-operative Society. The basic formalities for forming this society is to organize a minimum of 50 members from two states each. There can be even more than 50 members also however each added state needs a minimum of 50 members from that state. These first fifty members are average members who have ballot right and to whom shares are set aside. The 2nd category of members are nominal members...

Duty of Governing Body Members of Multi State:-. As far the interim management committee list is concerned who are responsible for the management and handling of the society, the society needs to minimum 7 members and this list can go upto 21 members. Just for example in a credit cooperative society, if the society wants to make any scheme like gold loan, car loan, taken care of deposit loan, double deposit strategy, triple deposit plan or any special plan, the society has to give a prior 15 days observe to all its members by rate post, newspaper publication etc. As per the regulations of MSCS Act 2002, an individual currently being a member of a society can not be a member of a multi state cooperative society of the exact same type. Management of a Multi State Cooperative Society: - No part of the funds, various other than net earnings of a multi state cooperative society shall be divided by means of benefit or dividend or otherwise dispersed amongst its members. In case o...