Thus, a co-operative society runs on democratic principles. Thus cooperative society formed by a group of persons for their mutual economic assistance at any level of production and distribution. The networks of cooperatives within the country operate at the local, regional, state and national levels that assist in agricultural marketing. Everything you need to know about the Features of Cooperative Society. A cooperative society enjoys lifelong existence. The liability of members of a cooperative society is limited to the extent of the capital contributed by them. There cannot be any compulsion in this regard. It does not aim at profit at the cost of its members, for it is formed basically for providing certain essential facilities to members. Cooperative societies are governed by provisions of relevant laws and are subject to state supervision and control. Since it is a part of govt. It also ensures continuous flow of capital and protects from short-term insolvency. �V��bZm�$AĈp��y�%�-�0N"S�o��e�Q�e�2���|���L�JkuC�t�$���RH����0���"���Q�����V�҈N$-u�dw�@��x�����i&c��8�I2o�i+�tO{�����H�uߑՕ���� �6v��j���~�h6���N��T�͉�eL��!2��2��9�kć�Fm�q:�J#b�MmIoi�[ՠI��4I';�(��u��"� k���nt�J��n/:ZK�6�R� ��o�Wo�կ�l~�z �)�JԺ�!��I5d�me�1 �R��s0nh�����U��Pz����.ꧣ�*��E�d6�n��ZU�S�"j#��@AVժFu'R��h,��f'v�!��%��P��)dڶ���!�,w�?L�Og��Du{&ٿH�gIխ�V��;���@Dۛ���}��g�|����2x��R�N �����}ц(wL�{U�o6��Q~��#@r�T�$�~���>X���(Pf%�����݋��y�Rղ^C�!������F8�7�k�; ��u�(Q�(��A5j�̕���,"�Ɂv�a�ȧDc#sX �br[�!�� �L �{���]{ ��R�p-����!h�RV�7��G�����W� `q��F�u�=>7�>�������,������c��TkV��VL8�����ΐr6�d���!ř�]XLo�4L'�p�qM2��'ڽ���$�����,��l�� The membership of a cooperative society is open to all. This does not mean that a cooperative society will never work for profit. The mission statement contains the definition of a cooperative, the values that cooperatives should espouse, and the seven principles that they A cooperative society is registered under the Cooperative Societies Act, it is a separate legal entity where the liability of its member is limited. The members of this committee are selected jointly by all members. Act. Membership. Industrialists used to exploit labour and other weaker sections of the society. 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The groups should contain high achievers and low achievers. Basically, the society takes care of the mutual economic benefits of its own members. Introduction: - A Co-operative society is a voluntary association of people who come together on the basis of unity and equality to protect and promote their common economic interest. There is no provision for voting by proxy. A distinctive feature of cooperative societies is that almost all transactions are in cash. However, it … A cooperative society is a union of weak and needy individuals who have equal rights and ... improves its cooperative character or features. Voluntary membership: The membership of a cooperative society is voluntary. The society provides loans only relate to agricultural credit to farmers 5. Members join the cooperative society by choice. Welcome to EconomicsDiscussion.net! Day-to-day work of cooperative society is managed by the managing committee. 9. 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