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Responsibilities of the office bearers while registering multi-state cooperative society in India

Responsibilities of the office bearers while registering multi-state cooperative society in India - <br><br>The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee.

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Responsibilities of the office bearers while registering multi-state cooperative society in India

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  1. Responsibilities of the office bearers while registering multi-state cooperative society in India www.finlaw.in

  2. Introduction The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.

  3. Initiating the Formation Process Preliminary Meetings: Office bearers must organize initial meetings with prospective members to discuss the objectives and benefits of forming a multi-state cooperative society. Feasibility Study: Conducting a feasibility study to assess the demand, viability, and scope of the cooperative society across multiple states is crucial.

  4. Drafting the Bye-laws Formulation of Bye-laws: The office bearers are responsible for drafting the bye-laws of the society, which must include the society's name, objectives, area of operation, membership criteria, and management structure. Approval of Bye-laws: Ensure that the bye- laws comply with the provisions of the Multi-State Co-operative Societies Act, 2002, and get them approved by the prospective members in a general meeting.

  5. Legal Compliance Application for Registration: Prepare and submit the application for registration to the Central Registrar of Cooperative Societies. The application must include: Form-1, duly filled and signed. Four copies of the proposed bye-laws. List of promoter members with their signatures. A certificate from the bank stating the credit balance in favor of the proposed society. A detailed project report justifying the need for a multi-state cooperative society. Documentation: Ensure all necessary documents, such as identity proofs, address proofs of members, and affidavits, are compiled and submitted.

  6. Financial Responsibilities Capital Requirements: Collect the necessary share capital and membership fees from the promoter members as outlined in the bye-laws. Bank Account: Open a bank account in the name of the proposed cooperative society to manage funds and transactions during the registration process. Audits and Financial Transparency: Maintain transparent financial records and prepare for audits as required by the regulatory authorities.

  7. Communication and Liaison Coordination with Authorities: Act as a liaison between the society and the Central Registrar, addressing any queries or additional requirements promptly. Member Communication: Keep the promoter members informed about the progress of the registration process and any issues that arise.

  8. Post-Registration Activities Operationalization: Once registered, the office bearers must ensure that the society becomes operational, including setting up the office, hiring staff, and commencing activities as per the objectives of the society. Compliance and Reporting: Regularly update the Registrar on the society’s activities, hold annual general meetings, and ensure compliance with ongoing statutory requirements. Governance and Management Elections and Appointments: Conduct elections for the governing body as per the bye-laws and ensure the smooth transition of responsibilities. Policy Implementation: Develop and implement policies for effective management and growth of the cooperative society.

  9. Conclusion The responsibilities of the office bearers in the register multi-state cooperative society in India are extensive and multifaceted. They must ensure meticulous planning, legal compliance, financial management, and effective communication throughout the process. Successful registration and operation depend significantly on the office bearers' diligence and adherence to the legal framework provided by the Multi-State Co-operative Societies Act, 2002. Their roles are pivotal in laying a strong foundation for the cooperative society to achieve its objectives and serve its members effectively across state boundaries.

  10. CONTACT US +91-9820907711 / 1800-4198-402 www.finlaw.in admin@finlaw.in

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