Multi-state co-operative societies are registered under the Multi-State Cooperative Societies Act of 2002 and must operate for the benefit of members across multiple states. There are several types including credit, housing, agriculture, and marketing co-operatives. To register a multi-state credit co-operative, an organization must submit documents like bye-laws, promoter member lists, details of board members, proof of members in at least two states, and plans for how the co-operative will benefit members and the community. Registered multi-state co-operatives are allowed to raise funds through deposits, debentures, and issuing equity shares.
Multi-state co-operative societies are registered under the Multi-State Cooperative Societies Act of 2002 and must operate for the benefit of members across multiple states. There are several types including credit, housing, agriculture, and marketing co-operatives. To register a multi-state credit co-operative, an organization must submit documents like bye-laws, promoter member lists, details of board members, proof of members in at least two states, and plans for how the co-operative will benefit members and the community. Registered multi-state co-operatives are allowed to raise funds through deposits, debentures, and issuing equity shares.
Multi-state co-operative societies are registered under the Multi-State Cooperative Societies Act of 2002 and must operate for the benefit of members across multiple states. There are several types including credit, housing, agriculture, and marketing co-operatives. To register a multi-state credit co-operative, an organization must submit documents like bye-laws, promoter member lists, details of board members, proof of members in at least two states, and plans for how the co-operative will benefit members and the community. Registered multi-state co-operatives are allowed to raise funds through deposits, debentures, and issuing equity shares.
Multi-state co-operative societies are required to be registered under Multi
State Cooperative Societies ACT, 2002. With objects of the society must be for serving the interests of members in more than one State. Multi-sate co- operative societies are formed by the group of individuals to promote their economic and social betterment and to provide functional autonomy.
What are the types of a multi-state co-operative society?
Society? Model Bye-Laws (four copies). Intensive inquiry letters for NOC. List of Promoter members. Min 7 board members and maximum 21 board members. Minimum 50 members from each state at least two states. Copy of pre-registration meetings resolution (about board, Capital, members, operations, i.e.). Proposed name of your multi-state cooperative society. Head office address to be registered. A certificate from the Bank stating the credit balance in favor of the proposed multi-state co-operative society. A detailed plan that how co-operative society will be beneficial for the social and economic betterment of its members and community as a whole.
Can we Raise fund in a multi-state co-operative society?
A Multi-sate co-operative society can accept deposits not more than the ten times of the paid up share capital and net reserves in a financial year. A multi-State co-operative society can issue non-convertible debentures to the extent of twenty-five per cent of its paid-up share capital. A raise fund thru allotment of equity shares.