A cooperative society indicates a public registered or considered to be enlisted under any law identifying with reasonable orders for the present in power in any State or under the Central demonstration. Helpful societies may be legislated by the individual State cooperative Societies Act or by the Multi-State Cooperative Societies Act, 2002. The societies, whose primary location is to serve the investment in a specific State, are legislated by the Cooperative Societies Act of that particular State. While a society whose concept targets are to serve the diversions of its members in more than one State, are enacted laws by the Multi State Cooperative Societies Act, 2002.
The Multi State Cooperative Societies Act, 2002 which substitutes the previous statute of 1984, motivates the consolidation of helpful members whose capabilities and articles topped to a couple of states. The Act accommodates establishment of both necessary (with both institutional and individual parts) and chosen cooperatives (with just institutional involvement).
Documents needed for the registration of multi state cooperative society:-.
1. 4 copies of the suggested Bye-laws of the Multi-state cooperative society, appropriately signed by each of the individuals who sign the application.
2. Details including name of the proposed multi-state cooperative society,.
Address of headquarter to be signed up, location of operation and main goals.
3. A list of individuals who have actually added to the share capital, together with the quantity contributed by each of them, and the admission fee paid by them.
4. A certificate from the Bank stating credit balance in favor of the recommended multi state cooperative society.
5. A scheme revealing the information explaining how the working of the multi-State co-operative society will certainly be economically sound and the registration of such multi-State co-operative society will certainly be useful for social and economic betterment of its members through self-help and mutual help in accordance with the co-operative concepts.
6. The licensed copy of the resolution of the promoters which shall specify the name and address of one of the candidates to whom the Central Registrar may address correspondence under the guidelines prior to registration and hand or dispatch over registration files.
It normally takes 4-5 months for the registration of a cooperative society under MSCS Act 2002. If any objections occurs in the file, we are offered a date for hearing. If the concerned promoter member has the ability to validate the deficiencies in his file, the proposition is approved otherwise, we have to resubmit the proposition.
Liability:.
1) Liability of the members will be restricted to the share capital subscribed by them;.
2). Liability of every member would continue for duration of 2 years from the date of ceasing to be member of the society.