The main reason of credit Cooperative Society is to protect the interest of the economically weaker sections of the society. In every form of organization, whether it is a Sole Trader, Partnership or Joint Stock Company; the main motive is to increase profits.
Cooperative society is formed under the Co-operative Societies Act, 1912 or under the relevant state Co-operative Society’s law. This type of organization can be formed by at least 10 adult members. Another requirement is that the members willing to form a Society must have common bond among them. They may be the residents of same locality, colleagues, belonging to some group having affinity etc.
Types of Cooperative Societies
Below we have mentioned few points on types of cooperative society. If you need more information about cooperative society then visit here.
- Producer’s Cooperative societies
- Consumers Cooperative Societies
- Cooperative Marketing Societies
- Cooperative Credit Societies
- Cooperative Housing Societies
Procedure for credit cooperative society registration
1. List of members
2. Bank Certificate
3. Detailed explanation of working of the society.
4. Four copies of proposed bye-laws of the society.
5. Proof of payment of registration charges.
6. A copy of the Address Proof, where the registered office of your society will get located along with a NOC from the landlord if any.
For more details you may contact us.
Benefit of cooperative society registration
- The credit cooperative society is formation is easy. Minimum 10 or more adults can connect mutually to build society. Also, credit cooperative society registration is easy and comfortable.
- There is no membership obstacle unless especially denied. The membership of such a society is free for everyone. There is no barrier on the basis of gender, color, caste or religion. Any person can enter into society anytime and become its member.
- Like company form of ownership, the liability of members is limited to the extent of their capital in the cooperative societies.
If you need any kind of information about credit cooperative society, cooperative society registration process, features then you may contact us +919330160431 / +919711101954.