Question

The Rules and Regulations of a Co-operative Society are formed in its:
A) Co-operative Act
B) Co-operative rules
C) Bylaws
D) General Body

Answer 1

A) Co-operative Act

Answer 2

The rules and Regulations of a co-operative society are formed in its (a) Co-operative Act.

Definition of Co-operative Act;

Co-operative Act- the rules that is legally sanctioned in context of co-operative societies.

Features of Co- operative Act;

• Co- operative act shapes the co-operative enterprise and regulate the rules.
• They are in the control of a democratic rule with elected memebers.
• The finances are done through the shares among the mebers.
• Any member irrespective of class, creed, gender can be a member of co-operative societ reffered as open membership.
• Any person as a meber of co-operative society can volunteer with an interest to serve the best.

Hence, co-operative society are formed in the hands of co-operative act.