Cooperative Society

Answer

A cooperative society is a voluntary association of persons who join on an equal basis to promote their common economic interests through self-help and mutual help. Its main aim is service to members,…

Answer

The main objective is a service motive. It works to help members meet common needs such as cheaper goods, fair prices, or better services. Profit can happen, but it is secondary.

Answer

The guiding principles are: 'Each for all and all for each' and 'self-help through mutual aid.' These show that members work together for the benefit of everyone in the group.

Answer

The cooperative movement arose because the Industrial Revolution created economic and social imbalances. Capitalists often exploited labour and weaker sections, so people joined together to protect th…

Answer

Voluntary association means anyone with a common interest may join freely and may leave after proper notice. Nobody is forced to become a member or continue as a member.

Answer

It means every member gets one vote, no matter how many shares he or she holds. This keeps the society democratic and prevents rich members from controlling it.

Answer

After registration, a cooperative society becomes a body corporate with a separate legal identity. It can own property, make contracts, and continue even if members change.

Answer

Service motive means the society mainly exists to serve its members. Its motto is 'each for all and all for each.' Profit is only incidental to this aim.