Can a member enjoy maximum rights in the cooperative society by holding maximum number of shares?
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A member of cooperative Society can enjoy limited rights.
The liability of a society of a member is a registered society shall be limited.
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No, in a cooperative rights are distributed equally as it concerns the community.
Explanation:
- A cooperative society is a non-profit organization and is voluntarily associated with the aims to serves its consumers and clients. Mostly they have autonomous association and independence.
- The type of cooperative may includes the consumer cooperative were members votes for the decision made.
- Retail cooperative, housing cooperative, and utility cooperative are some of the examples. Here the public electricity, water, and telecom services are for its members and thus non individual has maximum profits or credits as they are socially shared.
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