Formalities for Registration of Coop society With Important Highlights

 “3. Formalities for Registration- 

(1) A group of persons not less than ten persons intending to form 

a cooperative society may join together and elect a chief

promoter among themselves, and a few promoters to assist him and authorise him

to take further steps for registration of the society. Such group of persons shall

1. decide the name and area of operation of the proposed society, 
2. adopt the bye-laws of the proposed society and also resolve to authorise the chief promoter to collect the required share capital from the persons intending to become the members of the proposed society.

(2) The chief promoter shall approach the jurisdictional Registrar along with

1.  a list of persons who have joined together to form the proposed cooperative society, 
2. a copy of the proceedings of the meeting of the said group of persons containing their names, addresses and signatures, 
3. two copies of the bye-laws of the proposed society and 
4. a copy of the project report to show the proposed society has reasonable chances of success and is going to be a viable organisation.

(3) The Registrar on being satisfied that, the proposed society has reasonable

chances of success and is going to be economically viable may permit the chief

promoter to collect such amount of share capital from such number of persons

intending to become the members of the proposed society within such period as he

may specify.

(4) After getting permission from the Registrar, the chief promoter shall 

1. get a few receipts book printed in the name of the proposed society and collect the share capital from the persons intending to become the members of the proposed society.
2. He shall issue receipts to the proposed members for the amount collected with his signature under his name and designation. 
3. The money so collected shall be deposited within seven days from the date of collection, in an account opened by the chief promoter in the name of proposed society, in a scheduled or a cooperative bank.. 
4. He shall maintain a cash book, receipt book, voucher book and other accounts for the money collected and remitted to the bank. However, he shall be competent to retain such money as may be necessary and sufficient to incur incidental expenses like printing, stationery, typing, postage, etc.,

(5) After collecting the share capital to the extent permitted by the Registrar from the specified number of persons, the chief promoter shall 

1. convene a meeting of the promoters of the proposed society and place the details of 
1. the particulars of receipts and expenditure incurred and the names of the proposed members from whom share capital is collected. 
2. After getting a resolution passed in the promoters meeting, he shall submit a proposal to the Registrar for the registration of the society in the prescribed application along with 
1. five copies of the bye-laws of the proposed society and 
2. the list of proposed members with their names and addresses. 
3. If there is any change in the promoters list, it can be ratified by the registering authority.
3. The application shall be signed by each one of the applicants who is an individual and by a person duly authorised on behalf of any cooperative society which is an applicant and 
4. shall be accompanied by the prescribed fee."

Authority: KCS Rules  2013:

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