Cooperative Society — Chapter Summary
ICSE · Class 9 · Commercial Studies
Summary of Cooperative Society for ICSE Class 9 Commercial Studies. Part of the ICSE Class 9 Commercial Studies syllabus.
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Overview
A cooperative society is a voluntary association of persons who join on an equal basis to promote common economic interests through self-help and mutual help. Its main aim is service to members, not profit. The cooperative movement grew out of the economic and social problems created by the Industri
Key Concepts
A cooperative society is a form
A cooperative society is a form of organisation in which persons voluntarily associate on an equal basis to promote their common interests. It is base
Membership is open to all persons
Membership is open to all persons with a common interest. Nobody is forced to join or continue as a member. A member can withdraw capital, but shares
After registration
After registration, a cooperative society becomes a distinct body with its own legal existence. It can own property, make contracts, and continue even
Each member has one vote
Each member has one vote, no matter how many shares are held. Rich members cannot dominate the society. The managing committee is elected by the membe
The main objective is to serve
The main objective is to serve members. Profit is only incidental. The motto is each for all and all for each.
Learning Objectives
- Define a cooperative society
- State the features of a cooperative society
- Distinguish between a cooperative society and a joint stock company
- Describe the merits of a cooperative society
- Describe the demerits of a cooperative society
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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