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Credit Co-operative Society Registration

Credit Co-operative Society Registration

  

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  • Noc by Client 
  • 100% Accurate buy-laws.
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  • Application drafting 
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What is a multi-state co-operative society?

Multi-state co-operative societies are required to be registered under Multi State Cooperative Societies ACT, 2002. With objects of the society must be for serving the interests of members in more than one State. Multi-sate co-operative societies are formed by the group of individuals to promote their economic and social betterment and to provide functional autonomy.

What are the types of a multi-state co-operative society?

  • Credit co-operative society.
  • Housing co-operative      society.
  • Agriculture co-operative      society.
  • Marketing co-operative      society.

How to Register a Multi State Credit Co-operative Society?

  • Model Bye-Laws (four      copies).
  • Intensive inquiry letters      for NOC.
  • List of Promoter members.
  • Min 7 board members and      maximum 21 board members.
  • Minimum 50 members from each      state at least two states.
  • Copy of pre-registration      meetings resolution (about board, Capital, members, operations, i.e.).
  • Proposed name of your      multi-state cooperative society.
  • Head office address to be      registered.
  • A certificate from the Bank      stating the credit balance in favor of the proposed multi-state      co-operative society.
  • A detailed plan that how      co-operative society will be beneficial for the social and economic      betterment of its members and community as a whole.

Can we Raise fund in a multi-state co-operative society?

  • A Multi-sate co-operative      society can accept deposits not more than the ten times of the paid up      share capital and net reserves in a financial year.
  • A multi-State co-operative      society can issue non-convertible debentures to the extent of twenty-five      per cent of its paid-up share capital.
  • A raise fund thru allotment      of equity shares.

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