Credit Co-Operative Society Registration

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What is multi-State Co-operative Society ?

Multi-State Cooperative societies needs to get themselves registered under Multi State Cooperative Societies Act, 2002. Where objects of the society must be for serving the interest of the members in more than one State. Multi State Cooperative societies are formed by a group of individuals to promote their economic and social betterment and to provide functional autonomy.

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

Following are the requirements which needs to be followed in order to register a Multi State Credit Cooperative Society and the are as follows-

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?

1. A Multi State cooperative society can accept deposits not ,more than 10 times of the paid up share capital and net reserves in a financial year.
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.

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