The Formation of Cooperative Society is simple matter and there is no complicated procedure for its registration. The formation of the cooperative society is governed by the provision of cooperative society Act 1925 in our country. It can be formed with limited or unlimited liability.
To get a cooperative society registered, an application on prescribed form must be submitted to the Registrar of the cooperative societies in which the society’s office is t be located.
8 Pre-Registration Conditions for Formation of Cooperative Society
- There must be at least 10 members above the age of 18 years. But there is no restriction for the maximum number of members.
- The member must be resident of the same town or village or in the same group of villages.
- There must be an in name of the society.
- Every society with limited liability must have the word “limited” after the name of society.
- Application must be signed by the promoters/secretary/officers. Moreover, such an application must be accompanied by the following documents:
- Memorandum of the Society.
- Articles of the Society.
- Two copies of the by-laws (internal working rules) proposed to be adopted by the society.
After a proper verification of the application according to law, the Registrar will give his approval to the formation of the society and will record the name of the society in the register. Generally Registrar issues a certificate of registration which is conclusive evidence that the society is duly registered.
After its registration the cooperative society can invite new members and can conduct the particular business for which it has been organized and registered.