Features of Cooperative Society
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Answer:
As it is a voluntary association, the membership is also voluntary. A person is free to join a cooperative society, and can also leave anytime as per his desire. Irrespective of their religion, gender & caste, membership is open to all.
It is compulsory for the co-operative society to get registration. The co-operative society is a separate legal identity to the society.
It does not get affected by the entry or exit of its members.
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..... Thanks
Some of the features of a cooperative society are:-
1. Voluntary Association 2. Equal Voting Rights 3. Separate Legal Entity 4. Service Motive 5. Distribution of Surplus 6. State Control 7. Elimination of Middlemen 8. Cash Trading 9. Audit
10. Principle of Self and Mutual Help 11. Democratic Management 12. Perpetual Existence 13. Open Membership 14. One Man One Vote 15. Perpetual Existence 16. Spirit of Co-Operation 17. Capital Raising 18. Registration 19. Management of Affairs of Co-Operative
20. Dividend Distribution from the Surplus 21. Service Motto 22. Disposal of Surplus 23. Fixed Return on Capital 24. Common Interest 25. Equality of Vote 26. Distributive Justice 27. Limited Capital 29. Morality and Ethics.