A state cooperative society is defined as an association of persons who united voluntarily to meet their common economic needs and aspirations as specified from time to time depends upon the nature of society, through a jointly owned and democratically legal identity registered under the Cooperative societies Act.
What are the kinds of Societies in india?
- Credit Cooperative societies
- Consumer cooperative societies
- Urban cooperative society
- Marketing Cooperative Societies
- Industrial Cooperative societies
- Labour cooperative societies
- Transport cooperative societies
- Security services cooperative societies
- Group housing societies
- Cooperative societies formed by professionals in the area of Art, Education, Insurance etc.
What are the requirements for forming a Cooperative Society
- A minimum number of members required depending upon the nature of the Societies
- Minimum share capital required depends on the nature of the societies
- The object of the society must be the promotion of the economic interests of its members in accordance with the principles of cooperative society.
- A society which was proposed to be registered must be economically capable of being run by own.
- Proposed society must not have any adverse effect on co-operative movement.
- Subscription of the minimum amount in the form of capital is required for prospective members depend upon the nature of society and as per bye laws.
What are the Documents Required for Registration
- Proposed name of cooperative society
- Name, address, profession, the monthly income of promoter members
- A Bank Certificate to the effect that from the share capital raised by the promoters has been deposited in a suspense account in the name of proposed cooperative society.
- Proposed bye laws of the cooperative societies must be duly signed by each of the promoter members (4 copies)
- An affidavit of chief promoter for proposal pf approval of the Registrar on the prescribed form.
- Promoter member list who have subscribed capital together with the amount contributed by them.
- A declaration of each of the members that he is not the family member of any other promoter.
- Proposed cooperative society scheme including woking which reflects economic soundness of the proposed cooperative society.
- A statement of each member reflecting his financial position
- A residence proof of members in the area of operation of State Cooperative society.
- A certified copy of the resolution of members adopting the bye laws and authorizing officer who can make modification in proposed bye laws, if suggested by Registrar in process of Cooperative society Registration and member’s resolution will also specify the name and address of the person for any correspondence in process of registration and deliver incorporation certificate.
What will be the procedure of Registration/
Persons who want to register a State Cooperative Society will make an application to the Registrar of the area on a prescribed form i.e. Form 1.
Along with the form type of the society they want to register, proposed bye laws of that society, number of members, chief promoters name and address.
The application must be signed by not less than 10 persons or by a number of members depends upon the nature of societies.
If the Registrar is satisfied will register cooperative society and issue a certificate of incorporation.
Where Registrar refuses then from the date of receipt of an application for cooperative society registration within a period of one month registrar is required to communicate for refusal with valid reasons for such refusal.
The application shall be deemed to have been accepted for co operative society registration with the application for registration is not disposed off in a manner prescribed within a period of one month.