A co-operative society is a democratic, voluntary association of individuals united to meet common economic, social, and cultural needs. It plays a crucial role across various sectors such as education, agriculture, food, finance, healthcare, and more.

The primary purpose of a co-operative society is to safeguard the interests of its members, especially those belonging to economically weaker sections. It operates not for profit, but for the mutual benefit and welfare of its members.

Co-operative societies function as a distinct form of business organization, characterized by joint ownership, democratic leadership, and equitable contribution

Key Characteristics of a Co-operative Society

1. Voluntary Membership: Membership is open to all individuals without discrimination on the basis of gender, caste, religion, or social status. Anyone can join or leave the society voluntarily.
2. Mandatory Registration: Registration under the respective Co-operative Societies Act is compulsory, granting the society legal status as an independent entity.
3. Separate Legal Identity: A registered co-operative society has its own legal identity, distinct from its members.
4. Limited Liability: The liability of each member is limited to the extent of their capital contribution to the society.
5. Democratic Management: The society is managed by a managing committee elected by the members. Every member has one vote, regardless of the number of shares held.
6. Uninterrupted Existence: The entry or exit of any member does not affect the continuity of the society.
7. Mutual Welfare as Objective: The core goal is to serve the members’ interests, not to earn profit. Any surplus income is equitably distributed among members in the form of dividends.

 

Types of Co-operative Societies

Co-operative societies can be broadly classified into the following five types:

1. Consumer Co-operative Societies
2. Producer Co-operative Societies
3. Co-operative Credit Societies
4. Marketing Co-operative Societies
5. Housing Co-operative Societies

 

Documents Required for Registration of a Co-operative Society

Here is a checklist of commonly required documents for the registration process:

1. Form A in quadruplicate, signed and verified by at least 90% of the promoters
2. List of Promoters and Members
3. Bank Certificate confirming deposit of share capital
4. Detailed report outlining the proposed objectives and activities of the society
5. Four copies of the proposed bye-laws
6. Proof of payment of registration charges

 

Any additional documents such as:

1. 1. Affidavits
   2. Indemnity Bonds
   3. Other declarations as requested by the Registrar