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Cooperative Societies

Cooperative Societies

A cooperative society is an organisation or body of people, with a common interest, who come together to protect their interest and utilise it to better the lot of its members by engaging in various economically viable ventures.

Features of Cooperative Societies

  1. It is owned by people who share a common interest.
  2. Ever member enjoys a voting right.
  3. There is minimum shareholding for every member.
  4. Each member has only one vote irrespective of the size of his shares.
  5. Profits/dividends are shared according to members’ patronage or contributions.

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