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A cooperative society means a general public enrolled or considered to be enlisted under any law identifying with agreeable 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 destination is to serve the investment in a specific State, are legislated by the Cooperative Societies Act of that specific State. While a society whose principle targets are to serve the diversions of its members in more than one State, are legislated by the Multi State Cooperative Societies Act, 2002.
The Multi State Cooperative Societies Act, 2002 which substitutes the prior statute of 1984, encourages the consolidation of helpful members whose articles and capacities spread over to a few states. The Act accommodates establishment of both essential (with both individual and institutional parts) and elected cooperatives (with just institutional participation).
Documents required for the registration of multi state cooperative society:-
1. Four copies of the proposed Bye-laws of the Multi-state cooperative society, duly signed by each of the persons who sign the application.
2. Details containing name of the proposed multi-state cooperative society,
Address of headquarter to be registered, area of operation and main objectives.
3.A list of persons who have contributed to the share capital, together with the amount contributed by each of them, and the admission fee paid by them.
4. A certificate from the Bank stating credit balance in favour of the proposed multistate cooperative society.
5. A scheme showing the details explaining how the working of the multi-State co-operative society will be economically sound and the registration of such multi-State co-operative society will be beneficial for social and economic betterment of its members through self-help and mutual aid in accordance with the co-operative principles.
6. The certified copy of the resolution of the promoters which shall specify the name and address of one of the applicants to whom the Central Registrar may address correspondence under the rules before registration and dispatch or hand over registration documents.
It generally takes 4-5 months for the registration of a cooperative society under MSCS Act 2002. If any objections occurs in the file, we are given a date for hearing. If the concerned promoter member is able to justify the deficiencies in his file, the proposal is approved or else, we have to resubmit the proposal.
Liability :
1) Liability of the members shall be limited to the share capital subscribed by them;
2). Liability of every member would continue for period of two years from the date of ceasing to be member of the society.
