It is a requirement to register a society because only after registration the society obtains legal status. That’s why the formation of my cooperative housing society was completed by a contractor and we property buyers. Our cooperative society has a total of 12 members. So I just wanted you to know about the cooperative society minimum members.
Get help with finalising all the property documentation from the experts at NoBroker here. Manage your property with NoBroker to stay away from all the hustle.What is the minimum number of members in cooperative society?
According to the Co-operative Societies Act of 1912, a cooperative society must be created. It may also be established by following the rules of the relevant state cooperative society. So in formation of a society minimum number of members required is 10. The group members are eager to create a society that will connect them together and require a shared interest. They could be employees of a particular company or residents of a nearby community. The core idea is that everyone wanting to create a community must have some common goals.
What are the aims of a cooperative society?
Society manufactures, offers, and provides high-quality standardised goods. They also give the products to the final clients.
To have a good understanding of one another and not be competitors in the market with themselves.
Daily operations are run in a morally correct and sincere manner.
The arrangement of appropriate services to cooperative society members without ever intending to make a profit.
So you are now aware of the cooperative society minimum members criteria.
Read More: How to register cooperative society in India? What is the election procedure of the cooperative society in Maharashtra? What is credit cooperative society?Your Feedback Matters! How was this Answer?
Hello,
My elder sister lives in a cooperative society so I know about the requirement of minimum members in cooperative society. Let me first tell you about the co-operative housing society first.
Well, it is a legally-established membership-based entity made of one or more residential buildings. When you buy shares in the housing cooperative society, you become its member. After becoming a member, you obtain the right to occupy a housing unit in society, be it a house or an apartment.
Borrowing from The Three Musketeers of Alexander Dumas – One for all, and all for one – is the cooperative’s motto.
How Many Members are Required to Form a Cooperative Society Minimum Members in Cooperative Society:10
Maximum Members in Cooperative Society:It is not specified in the Cooperative Societies Act. However, the member may specify the maximum no. of members after the formation of the society.
Characteristics of a Cooperative Society:Open to all
Voluntary organizations
Concern for members
Democratic Ownership
Self-regulation
Training and information
Mutual help
Financial contribution
Limited liability
Legal entity
Now you know what is the minimum number of persons required to form a cooperative society.
Read more:What is the election procedure of cooperative society in Maharashtra
What is the society registration process in Maharashtra
How to fill vacancy in managing committee of housing society?
How to dissolve a housing society managing committee?
How many members are required to form a cooperative society?
How to register cooperative society in India?
I hope I cleared all your doubts regarding maximum and minimum members in cooperative society.
How many members are required to form a cooperative society?
Deepali
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2021-12-02T16:57:59+00:00 2023-08-09T13:04:07+00:00Comment
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