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MANAGEMENT OF COOPERATIVE SOCIETIES

All about co-operative societies & their management
Aarohi Kasbekar # 24 Anees Patel # 36 Ahmed Farid # 51 Branda Fernandes #15 Gwendoline Dinger#13 Rahul Purshottham#42 Sweety Baretto # 5

Wilson College - SYBMS Submitted to Prof. Vijay Kapoor

What is a co-operative society?

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Co-operative society is a business organization owned and operated by a group of individuals for their mutual benefit.

What are its features?

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Service Motive Limited/Unlimited Liability Stability Equal Voting Rights Voluntary Associations Open Membership Lack of Secrecy

Important aspects to know while managing a co-operative society

Advantages

Easy Formation Open Membership Democratic Control Government Assistance Eliminations of Middlemans Profits

Important aspects to know while managing a co-operative society

Disadvantages

Limited Capital Lack of Motivation Lack of Co-Operation Dependence on Government Problems in Management

Types of co-operative societies

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Consumers Co-Op Society Producers Co-Op Society Co-Op Marketing Society Housing Co-Op Society Co-Op Farming Society

Types of Membership
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Original Member Associate Member Nominal Member Sympathizer Member

Managing Committee
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Powers of Managing Committee

Manage the business of the society. Scrutinize the membership applications. Check the books of accounts and register of the secretary and treasurer. Sanction working expenses and any emergency expenses. Appoint, suspend, and remove all officers except auditors. Deposit the funds of society to any bank. Enter into any contract of the society.

Managing Committee
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Duties of Managing Committee

To observe the provision of the act, rules and bye-laws. To get the account of society audited and placed before the General Body Meeting. To hold elections of the committee before expiry of terms. To maintain particulars of assets and liabilities of the society. To maintain prescribed books of accounts.

What does a Secretary do?

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Prepares and enforces office rules and procedures. Maintains record book of business transactions and annual budget of the society. Executes the decisions of managing committee as regards borrowings & investment of surplus funds. Fixes date of AGM and Managing Committee Meetings in consultation of chairman. Issues notice, agenda etc. for meetings. Maintains register of members, share ledger, capital register minutes book. Files statements of accounts with the registrar.

Types of meetings in the co-op society

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a) Annual General Meeting

b) Special General Meeting

Acknowledgement
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We take this opportunity to thank our professor Mr. Vijay Kapoor and our HOD Ms. Zuleika Homavazir for giving us a chance to effectively understand CoOpertative Societies through this project. This will indefinitely help us in our future endeavors.