COOPERATIVE SOCIETIES

COOPERATIVE SOCIETIES

By oge [e-mail]

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FEATURES OF CO-OPERATIVE SOCIETIES

1. It is formed by two or more persons with stipulated maximum number.

2. It is owned by members who have met the stipulated conditions.

3. The main objective is to promote the interest of members.

4. It is manage and controlled by an elected committee who must be members of the society.

5. It is democratic in nature.

6. It has perpetual existence.

7. Capital is raised through voluntary contributions.

8. Profit is shared based on patronage.

9. It is registered as a limited liability.​

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TYPES OF CO-OPERATIVE SOCIETIES

1. Producers’ co-operative society.

2. Consumers’ co-operative society.

3. Wholesalers’ co-operative society.

4. Retailers’ co-operative society.

5. Credit and thrift society.

6. Multi- purpose co-operative society.

1. PROBLEMS OF PUBLIC CORPORATION

   • Negative or poor attitude to work:

   • Bureaucracy:

   • Political instability:

   • Political interference:

   • Duplication of offices and position:

   • Shortage of qualified personnel:

   • Ineffective organization:

   • Lack of initiative