What is multi-State Co-operative Society ?
There are four kinds of Multi State Cooperative Societies and they are as follows-
1.Credit Cooperative society
2.Housing Cooperative Society
3.Agriculture Cooperative Society
4.Marketing Co-Operative society
How to Register a Multi State Credit Cooperative Society
1.Four Copies of Model Bye laws.
2.Intensive Inquiry letters for NOC
3.List of Promoter members
4.Min. 7 Board members and maximum 21 board members.
5.Minimum 50 members from each State at least two States
6.Copy of pre-registration meetings resolution (about Board, capital, members, operations, etc.)
7.Proposed name of your multi State Cooperative Society
8.Head Office Address to be registered
9.A certificate from the Bank stating the credit balance in favor of the proposed multi state cooperative society
10.A detailed plan that how a cooperative society will be beneficial for the social and economic betterment of its members and community as a whole.
Can we raise funds in a Multi State Cooperative society?
2.A Multi State cooperative society can issue non- convertible debentures to the extent of 25 percent of its paid up share capital.
3.They can raise fund through allotment of equity share.