Q.Write a short note on: Co-operative Societies

A co-operative society is a voluntary association of at least ten persons who unite on the basis of equality to protect and promote their common economic interests through self-help and mutual help, registered under the Co-operative Societies Act and run on the principles of 'one member, one vote' and service.

A co-operative society is a voluntary association of persons who join together of their own free will to promote their common economic interests. It is based on the idea of self-help through mutual help — 'each for all and all for each'. A minimum of ten persons is required to form one, and it must be registered under the Co-operative Societies Act, which gives it a separate legal existence and limited liability. It follows democratic management ('one member, one vote'), open membership and the principle of service rather than earning maximum profit; examples include consumer, prod …