cooperative society

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 to whom shares are not allotted, who do not have ballot right and who never take part in any of the general body meetings.

Function of Administration 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 needs to minimum 7 members and this list can go upto 21 members. Simply for example in a credit cooperative society, if the society desires to make any plan like gold loan, vehicle loan, taken care of deposit loan, double deposit strategy, triple deposit plan or any special plan, the society has to offer a prior 15 days see to all its members by rate post, paper publication and so on. As per the regulations of MSCS Act 2002, an individual already being a member of a society can not be a member of a multi state cooperative society of the same kind.