Cooperative Society

Management of a Multi State Cooperative Society: -.

No part of the funds, various other than net earnings of a multi state cooperative society will be divided by means of perk or dividend or otherwise dispersed among its members. In case of multi state cooperative societies which do not have share capital, the surplus of earnings over expense will not be treated as net earnings and such surplus will be dealt with in accordance with the bye-laws. A multi state cooperative society shall, out of its net profits in any year move a quantity 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 move a quantity not less than ten percent to a reserve fund for conference unpredicted losses.

Time Considered registration: -.

Normally, the maximum 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 again and in specific situations, the society registration can be done earlier also on the basis of earlier rejections or on political pressures.

Besides registration, the modification proposal is also submitted in the Ministry of Farming. It takes generally three to 4 months. It is really rare that amendment proposition is rejected. We can submit change if we wish to increase our area of operation i.e. number of states or increase our authorized share capital or change our name or alter our workplace address.

The papers submitted along with amendment proposition are bank statement, audited account providing net earnings and turnover. The ministry demands justification and correct reasons why a society proposition ought to be changed.

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