Cooperative society definition at, a free online dictionary with pronunciation, synonyms and translation. The definition accords with the fundamental unity of cooperation. Handbook on cooperatives for use by workers organizations. List of cooperative society providers in nigeria vconnect. Introduction a cooperative society is not a new concept. Cooperative society legal definition of cooperative society. A cooperative society is a voluntary association of persons and not of capital. Pdf history and theory of cooperatives researchgate. Any group of people who have lived and worked together long enough to get themselves organized and to think of themselves as a social unit with well defined limits. It is a system of relationships that exists among the individuals of the groups. In a country like india, which had adopted socialistic pattern of society, the cooperative societies have to play an important role and to encourage them, they have to be put in privileged position. Each local association in a federated cooperative is a separate business entity that owns a membership share entitling it to voting.
In this definition, the following points highlight the unique characteristics required for. Every cooperative society in addition to providing services to its members, also generates some profit while conducting business. The cooperative society is organized in three parts. Cooperative, business, finance, structure, tax coops 101. Definition of a cooperative and aims of the handbook 11. So i tried find out opportuinities in cooperative sector which has 20% more calibre than mnc as a whole. A federated cooperative is a cooperative of cooperatives. The members of a federated cooperative are local cooperatives, each operated by a manager responsible to a board of directors. While leaving, he can withdraw his capital from the society. Members transaction costs decrease as a consequence of cooperative principles.
The purpose is to make available, in a single report, the information someone would need to acquire a general understanding of how cooperatives function. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Find list of best cooperative society in nigeria with their name, address, contact phone number and other information on vconnect. Definition and classification of cooperative societies scribd.
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