Co-operation · Class 12 Commerce
Ch 4Maharashtra Co-operative Societies Act, 1960 — Class 12 Co-operation, concept-first.
A co-operative society is not just a group of people who decide to work together; the moment it is registered it becomes a legal body with rights and duties, and everything it does — how it is formed, who may join it, how it is managed, how its money is audited, and how quarrels among its members are settled — is gover…
Key concepts
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Objectives and Scope of the Act
The Maharashtra Co-operative Societies Act, 1960 (in force from 26 January 1962) consolidates and amends the law relating to co-operative societies in Maharashtra.
Most relevant Q&A
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Overview
A co-operative society is not just a group of people who decide to work together; the moment it is registered it becomes a legal body with rights and duties, and everything it does — how it is formed,…
Introduction, Meaning and Objectives of the Act
A co-operative society is formed by ordinary people of limited means who pool their small savings and run a business democratically for their own benefit.
Registration of a Co-operative Society
The State Government appoints a Registrar of Co-operative Societies for the whole State, and may appoint additional, joint, deputy and assistant Registrars to help him.
Membership of a Co-operative Society
The Act lays down who is eligible to be a member of a society. Broadly, a member may be (a) an individual who is competent to contract — that is, who has attained the age of majority (18 years) and is…
Management of a Co-operative Society
Under the Act, a co-operative society is managed at two levels. The supreme (final) authority rests with all the members together — the general body — while the day-to-day management is carried on by…
Audit, Inquiry and Inspection
Because a co-operative society handles the small savings of ordinary people and enjoys the protection and often the support of the State, the Act gives the Registrar wide powers to audit, inquire into…
Settlement of Disputes, Recovery of Dues and Winding Up
A special feature of co-operative law is that disputes connected with a society are kept out of the ordinary civil courts and settled through a cheaper and speedier co-operative machinery.
Amendments to the Act and the 97th Constitutional Amendment
The Maharashtra Co-operative Societies Act, 1960 has been amended many times since it came into force, to meet changing conditions — for example, to strengthen audit, to control mismanagement, to brin…
More questions
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- Q1The Maharashtra Co-operative Societies Act, 1960 came into force on: (A) 15 August 1947 (B) 26 January 1950 (C) 26 January 1962 (D) 1 May 19…Free
- Q2Under Section 6 of the Act, the minimum number of persons required to register an ordinary co-operative society is: (A) five (B) seven (C) t…Free
- Q3The voting rule followed by a co-operative society under the Act is: (A) votes in proportion to shares held (B) one member, one vote (C) vot…Preview
- Q4Under Section 91 of the Act, a dispute touching the management or business of a society must be referred to: (A) the ordinary civil court (B…Preview
- Q5The 97th Constitutional Amendment Act, 2011 fixed the term of the elected committee (board) of a co-operative society at: (A) three years (B…Preview
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- Q6State any four objectives of the Maharashtra Co-operative Societies Act, 1960.Free
- Q7Explain the meaning and importance of the certificate of registration of a co-operative society.Free
- Q8Distinguish between a regular member and a nominal member of a co-operative society.Preview
- Q9Why is audit made compulsory for co-operative societies under the Act, and what does the auditor do?Preview