what is a co-operative society?
Answers
Explanation:
co-operative society is the type of business organization, wherein people work together, for a common goal, i.e. welfare of its members.
It has to be registered under the Cooperative Societies Act, 1912, in order to obtain the status of a separate legal identity. The members of the cooperative society raise the capital themselves by issuing shares.
It is an autonomous association of individuals, operated with the motive of safeguarding their economic, cultural and social interest if there are possible chances of exploitation while dealing with the intermediaries, who want to earn maximum profits.
Answer:
A co-operative society is a voluntary association of individuals having common needs who join hands for the achievement of common economic interest. Its aim is to serve the interest of the poorer sections of society through the principle of self-help and mutual help. ... Cooperative Societies Act is a Central Act.