Since a co-operative society is a business organization dividends are shared periodically. One important function of the cooperative board is to educate members about their organization. The aim is to investigate the ways in which cooperatives can act as agents towards sustainable community development. Functions of Multi-Purpose Co-operative Society The multipurpose co-operative society has large number of functions to discharge. There are 5 different types of cooperatives: Consumer: owned by consumers who buy goods or services from their cooperativeProducer: owned by producers of commodities or crafts who have joined forces to process and market their productsWorker: owned and d The dividends are shared equally among members based on the volume of shares each member has. A cooperative society is formed not only to earn profit but also to ascertain the financial welfare of the members. It can work for arranging credit, improved seeds, agricultural implements, fertilizers, sanitation, health etc. As the name indicates its responsibility for different purpose for which it has been set up. If your co-operative society is old it may continue to follow old byelaws. Effective member control is impossible without information. The death of a member of a co-operative society does not spell the end of the society; neither does the departure of a member. But when a new co-operative society approaches the registrar it would have to compulsorily adopt the new byelaws. the annual general meeting of a co-operative society is convened each year by the committee. The Role of Cooperative Society for Marketing Agriculture Producs in Bangladesh . About 80% people are directly … The functions of the annual general meetings are: (section 27 of the Act) Consider and confirm the minutes of the last annual general meeting. The paper is a descriptive survey, which involves the collection of data for the purpose of describing the role of cooperative societies in economic development. The primary cooperative credit society is an association of borrowers and non-borrowers residing in a locality. The aim of a cooperative society is to protect the economic interests of members in the face of possible exploitation at the hands of middlemen obsessed with the desire to earn greater profits. items are maintained to get multipurpose opportunities. Elections of Co-operative bodies have to be conducted by a separate election authority, as per the Maharashtra Co-operative Societies Election to Committee Rules, 2013 Major Reforms in Co-operative Sector for fulfilling the objectives of the National Policy by Adv. By ABM Siddique. This paper examines the role of cooperative societies in economic development. it should be … World University of Bangladesh . for its members. It is the duty of the directors to provide the membership with that information. Under the Maharashtra Co-operative Societies Act 1960, a housing society is free to adopt its own set of laws that governs its members. Democratic Management- Annual General Meeting (AGM) of co-operative society is held every year in which the managing committee is elected, which manages the affairs of the co-operative society. 12. Abstract-Bangladesh is a developing country and agriculture is the main largest sector of the economy. The funds of the society are derived from the share capital and deposits of members and loans from central cooperative banks. The cooperative society is a voluntary association of persons, who join together with the motive of the welfare of the members. Perpetual Existence- Existence cooperative remains unaffected by the … A cooperative credit society is a legal entity that brings together people with similar needs. 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