What is Maharashtra State cooperative society Act?

Enacted on January 26, 1962, the Maharashtra Cooperative Societies Act provides a comprehensive framework for registration, membership, incorporation of duties and privileges of cooperative societies throughout Maharashtra.

Which Act governs the working of co-operative societies in Maharashtra?

XXIV OF 1961] The Maharashtra Co-Operative Societies Act I960. An Act to consolidate and amend the law relating to co-operative societies in the State of Maharashtra. 1. This Act may be called the Maharashtra Co-operative Societies Act, 1960.

Is cooperative society owned by government?

Cooperative Societies are governed by the Nigerian Cooperative Societies Act and are registered by the Director of Cooperatives in each state. In Lagos State, the Ministry of Commerce, Industry and Cooperatives oversees the registration and regulation of Cooperative Societies.

How many cooperative societies are there in Maharashtra?

2.13 lakh co-operative societies
Maharashtra has a huge network of 2.13 lakh co-operative societies, of which about 52 per cent are co-operative housing societies with working capital of ₹3,97,466 crore and deposits of ₹2,10,404 crore.

In which section of Maharashtra cooperative societies Act 1960 the condition of registration are given?

Registration (Section 19 to 21A) – Maharashtra Cooperative Societies Act 1960.

Which is the governing law of a cooperative society?

1.1 Constitution and governing laws In the case of co-operatives with objects not confined to one State, their incorporation, regulation and winding up fall in the central domain3 and are governed by the Multi-State Co-operative Societies Act, 2002.

What are the two types of members in a cooperative?

Kinds of Membership. – A cooperative may have two (2) kinds of members, to wit: (1) regular members and (2) associate members. A regular member is one who is entitled to all the rights and privileges of membership.

What is the minimum number of members in a cooperative society?

10 adult persons
The consent of at least 10 adult persons is required to form a cooperative society. Any ten adults can voluntarily form an association and get it registered with the Registrar of Co-operative Societies.