Question

Explain any two features of a cooperative society.​

Answer 1

Features of a Cooperative Society

As it is a voluntary association, the membership is also voluntary. ... There is limited liability of the members of co-operative society. Liability is limited to the extent of the amount contributed by members as capital. An elected managing committee has the powers to take decisions

Answer 2

• It is compulsory for the co-operative society to get registration. The co-operative society is a separate legal identity to the society.

• There is limited liability of the members of co-operative society. Liability is limited to the extent of the amount contributed by members as capital.

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