Economy, asked by arsalan78481, 1 year ago

How do cooperatives function explain in points

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Answered by aditisuyog

In a Cooperative society , the main motive is not profit making , but mutual help. It is a volutary association.

1) A person is free to join a cooperative society and free to live , whenever he/she wishes to. Membership is free and available to all .

2) It is compulsary for cooperative to get registered.

3) There is limited liability for the members . Members contribute capital of their own free wish. There is no minimum capital to be contributed by any member.

4) The managing committee , elected by the members by voting , takes the decisions.

5) Cooperatives is formed for the motive for mutual help. Hence , if any surplus is made , it is equally divide between all the member.

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