This paper provides a definition of a cooperative society and outlines the fundamental principles of cooperation. It describes the main types of cooperatives, the role of members and the democratic structure of a cooperative. There is a useful review of the different types of general meetings: inaugural, annual and extra-ordinary, with examples of conditions which should pertain to each. The paper continues with an outline of the role of the cooperative committees, particularly the management committee and the control committee, and then explains the financial structure of a typical society. Clear explanations are given regarding share capital and handling a surplus, if one should be created.
This is a concise review of the type of rules which define a normal cooperative and may be useful to someone aiming to establish a cooperative society within the cooperative laws of a country.
- Resource type Guideline
- Author Galor, Z.
- Year of Publication2002
- Number of pages12 pp.
- Keywords Cooperative Law, Cooperative