Management of a Multi State Cooperative Society: -.
No part of the funds, various other than net profits of a multi state cooperative society will be divided by way of perk or dividend or otherwise dispersed amongst its members. In case of multi state cooperative societies which do not have share capital, the surplus of earnings over expense shall not be dealt with as net profits and such surplus shall be dealt with in accordance with the bye-laws. A multi state cooperative society shall, out of its net profits in any year move a quantity 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 transfer an amount not less than ten percent to a reserve fund for conference unforeseen losses.
Time Taken for registration: -.
Normally, the optimal period for a multi state cooperative society registration is 4 months. In case, the application gets an objection, because case, the application can be submitted again and in particular situations, the society registration can be done earlier also on the basis of earlier rejections or on political pressures.
Registration, the amendment proposal is likewise filed in the Ministry of Farming. We can submit change if we want to increase our location of operation i.e. number of states or increase our authorized share capital or alter our name or alter our office address.
The papers filed along with change proposition are bank statement, audited account revealing net profit and turnover. The ministry needs justification and appropriate reasons why a society proposition should be amended.
