Different Types of Multi State Cooperative Societies & Needs:
Transport, Agriculture, Credit, Housing, Sugar, Fishery, Store, Hospital, Handloom,Customer,Labor and multi-functional cooperatives society are the many kinds of multi state cooperatives societies. The procedure for registration requires a submission made to the central registrar with approved form and specified particulars. It is also required to place at least fifty members from the two states with correct name and address proofs to form this society.
Role of Administrative Members of Multi State:
The interim organization committee is responsible for the management and handling of the society. As far the list is disturbed, the society to be formed should have at least 7 member and at the most 21 members. As per the modification made after the 97th Constitutional Modification act on February 2013, it is obligatory to have minimum 2 ladies and 1 extra member who are from Scheduled caste or Scheduled tribe. Until now there are 90950 Multi state supportive Delhi Housing Society in which the credit type multi state cooperative society is most promising. The governing body connections get includes in yearly unique general body meetings, resolutions, general body conferences, quorums, notifications, etc, similarly like in a credit or agriculture cooperative society.
The central registrar has the control to cancel the registration of the multi-state cooperative society even after seeing the report made to him. If the cooperative society needs to make any scheme like car loan, gold loan, property loan, double deposit strategy, triple deposit scheme, or any scheme which is exclusive, it is essential for the society to inform and offer 1 prior 15 days discover all its associates by mail, newspaper publication, or speed post, etc. After the 15 days, a general body conference is to be conducted. . If the minimum number of members needed for the meeting is one fifth of the total associates present and support for the scheme, the meeting can occur. The members present in the meeting and their votes along with the name of the governing body members are conserved in a minute’s book for future use and records.
The general body special conference can be held by informing its members by a notice at least 15 days prior to it. This special general body conference should be carried out a minimum of 4 times every financial year. It is also mandatory for the society to recruit a chartered accountant every financial year to be present in the special general body conference. The Charted account plays the role of handling the accounts of the society and submitting it with the tax return. The multi-state cooperative society other than the credit, multipurpose and housing can collect cash from the members in the form of advance and shared allocation. The society can even give the net profits in advance and the dividends to their members on shares.
Management of a Multi State Cooperative Society:
The multi-state cooperative societies are not permitted to divide any funds in the form of bonus or surplus amongst the members other than the net incomes. If the multi-state cooperative societies doesn’t share their capital or extra of income other than the expenditures then it will not be measured into the net incomes and such surplus income will be allocated according to the bye laws. A multi-state cooperative society is estimated to move at least twenty five percent of its net pays to the reserve fund and to credit its one percentage to the national cooperative education fund stated by the national cooperative union of India in New Delhi. They even have to handover a quantity of minimum ten percent to the backup fund to overcome the losses.
Time Taken for Registration:
The time occupied for the complete process of registration initial with the form filling to the approval by the essential registrar takes usually around 4 months. If the application gets a complaint or if it is cancelled it can be submitted again. Though in some definite condition, the society registration can be done on the basis of the refusals or even on administrative pressures. The modification proposal leaving the registration is to be submitted to the ministry of cultivation. As stated earlier, it again takes around 3 to 4 months. It is quite uncommon that the altered proposition is declined. If we wish to change our name or the position of our office or improve our specialized share capital we need to submit change. The regulations required to be submitted along with the change proposition are bank statement and accounts presentation net incomes and turnover. This is essentially because the ministry of agriculture requires proper justification and details for the society suggestion to be amended.