multi-state cooperative society

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The function of Governing Body Members of Multi-State:-.

As far as the interim management committee list is concerned who is responsible for the management and handling of the society, the society may want a minimum of 7 members and this list can go upto 21 members. Just for example in a credit cooperative society, if the society desires to make any scheme like gold loan, automobile loan, fixed deposit loan, double deposit plan, triple deposit strategy or any special plan, the society has to provide a prior 15 days see to all its members by speed post, newspaper publication, etc. As per the rules of the MSCS Act 2002, a person currently being a member of a society can not be a member of a multi-state cooperative society of the same kind.

Management of a Multi-State Cooperative Society: -.

No part of the funds, various other than net earnings of a multi-state cooperative society shall be divided by means of perk or dividend or otherwise distributed amongst its members. In the case of multi-state cooperative societies that do not have a share capital, the surplus of earnings over expenditure 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 revenues in any year transfer an amount not less than twenty-five percent to the reserve fund, credit one percent to cooperative academic training fund kept by the National Co-operative Union of India Limited, New Delhi or move an amount not less than ten percent to a reserve fund for meeting unpredicted losses. 
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cooperativesociety multistate

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multi-state cooperative society act
Mon, Mar 2, 2020

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multi-state cooperative society act
Mon, Mar 2, 2020

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