Question

Liability of the members of a cooperative society is
(a) Limited (b) Unlimited
(c) Joint (d) Joint & Several.

Answer 1

Answer:

So limited unlimited joint and sevral

Answer 2

The liability of the members of a cooperative society is limited.

Answer: Option (a)

Explanation:

Cooperative society has limited liability as in case the risk, the capital raised will be under stress and not the personal property of the contributors. The aim of the cooperative society is service driven and voluntary association involves limited liability on the part of the members associated. Thus it involves a high return on capital with minimum risk involved. The association was done to fulfill the basic requirements and increase their reach in the market.