Cooperative Society

Defination of a multi state cooperative society: -

A multi state cooperative society is registered from the center i.e. Delhi. The co-agent castes, with posts not kept to one state and serving the pastimes of parts in more than one state for social and budgetary renovation of its parts through self improvement and usual help as per the co-agent requirements are recognized as Multi State Cooperative Societies.

Kinds of multi state cooperative societies and guidelines: -

A multi state cooperative society is of numerous kinds- Credit, Housing, Agriculture, Transportation, Hospital, Sugar, Stores, Fishery, Handloom, Labor, Consumer and Multi Purpose Co-operative Society. The basic formalities for forming this society is to organize a minimum of 50 members from 2 states each. There can be even more than 50 members as well however each added state needs a minimum of 50 members from that state. These first fifty members are normal members who have voting right and to whom shares are allotted. The 2nd classification of members are nominal members to whom shares are not allocated, who do not have ballot right and who never take part in any of the basic body meetings.

Duty of Administration Members of Multi State:-.

As far the interim management committee list is concerned who are accountable for the management and handling of the society, the society may want to minimum 7 members and this list can go upto 21 members. Simply for example in a credit cooperative society, if the society wants to make any scheme like gold loan, auto loan, taken care of deposit loan, double deposit strategy, triple deposit plan or any unique plan, the society has to offer a prior 15 days observe to all its members by speed post, paper publication and so on. As per the guidelines of MSCS Act 2002, a person already being a member of a society can not be a member of a multi state cooperative society of the same kind.

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