The cooperative society
Cooperative means helps hand to hand. A registered cooperative society is a body corporate with perpetual succession and common sea. It can hold property, enter into contracts, institute and defend suit and other legal proceedings and to do all things necessary for the purposes of its constitution. Marked by willingness is to cooperate; compliant: a cooperative patient. Of, relating to, or formed as an enterprise or organization jointly owned or managed by those who use its facilities or services: a cooperative department store; cooperative apartment buildings. Cooperative store, a store established by a cooperative society, where the members make their purchases and share in the profits or losses.
A society founds deposited collected from the members under share amount. Government’s grants amount to runs society and recommend the banks sanction loans. Liability of past members towards society as on the date he ceased to be member will continue for two years. The Yemmiganur cooperative building society the Yemmiganur leather society the Yemmiganur milk society The Yemmiganur cooperative town bank the Yemmiganur weavers’ cooperative society the Yemmiganur food grains cooperative stores commodities civil supplies by this society These were founded in 1940 to 1950 by Machani Somappa. Now all the sick in bad position expect weavers, bank societies. A multi-State cooperative society or a cooperative society, the Chairman or Chief Executive of such multi-State cooperative society or cooperative society, as the case may be, shall be authorized by that board by a resolution, to sign the application for registration and bye-laws on its behalf and a copy of such resolution shall be appended to the application. He was a great industries man Founded a spring factory in Bangalore. Were runes by the partners of germens stump and shule? Now running it’s with good profits by the production of export quality. Application is to be signed by not less than ten persons being members of different families and where all the applicants are not individuals, the number of such applicants shall not be less than five as per section 7(1)(6). Registrar will have to decide the matter within 90 days as per section 8(2).
Annual Audit is to be conducted of every cooperative Society and report is to be submitted with in ten days from the completion of Audit as per section 63
Any Cooperative Society can be inspected by the officer or Inspector of the Department at any time and result of such inspection is to be communicated with a period of one month from the date of completion of such inspection.
Liquidation proceedings shall be closed within the period of five years from the date on which the order of winding up takes effect unless the period is extended by the Registrar as provided in Rule-117.
A director’s body will be there. Chairman vice chairman meets every month. Treasurer sees the fiancés position. General body meted twice in a year. The Office is administrated by a secretary. These are all supervising and auditing under cooperative registrar.
Cooperative department helps to societies. Members improve the society.
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