Multi State Cooperative Society In Mumbai
Posted by cooperative society on February 13th, 2020
Duty of Governing Body Members of Multi-State:-
As far as the interim management committee list is concerned who is accountable for the management and handling of the society, the society may want to a minimum of 7 members and this list can go upto 21 members. After the 97th Constitutional Modification Act 2011 from February 2013, it is obligatory to keep 2 women and 1 extra member who belongs to Scheduled Caste or to Scheduled People in the primary governing body list. Till today, there are 900-950 Multi-State Cooperative Societies out of which maximum are credit. The governing body members participate in annual general body meetings, special basic body conferences, resolutions, notification, quorums and so on
Management of a Multi-State Cooperative Society: -
No part of the funds, other than net revenues of a multi-state cooperative society shall be divided by means of incentive or dividend or otherwise dispersed amongst its members. In the case of multi-state cooperative societies that do not have a share capital, the surplus of earnings over expense will not be dealt with as net earnings and such surplus shall be dealt with in accordance with the bye-laws. A multi-state cooperative society shall, out of its net revenues in any year transfer an amount not less than twenty-five percent to the reserve fund, credit one percent to cooperative education fund maintained by the National Co-operative Union of India Limited, New Delhi or move a quantity not less than ten percent to a reserve fund for conference unexpected losses.
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Joined: June 8th, 2019
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