Question

State two features of Co-operative Society?​

Answer 1

Features of a Cooperative Society – Voluntary Association, Separate Legal Entity, Control, Service Motive and Distribution of Surplus.

Answer 2

Answer:

Features of a Cooperative Society

1. Voluntary Association- The membership of cooperative societies is voluntary. Anybody having a common interest is free to join a cooperative society. The member can also leave the society any time after giving a proper notice.

2. Equal Voting Rights- A cooperative society is based on the principle of “one man one vote”. A member has only one vote irrespective of the number of share(s) held by him. Thus, a co-operative society runs on democratic principles.

3. Separate Legal Entity- A cooperative society is required to be registered under the Co-operative Societies Act. Registration provides it a separate legal entity. Its existence is quite different from its members.The death, insolvency or lunacy of a member does not affect its existence. It can sue and be sued in its own name. It can make agreements as well as purchase and sell property in its own name.