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Coop Movement |
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The earliest co-operatives were set-up among the we-
avers, in other words work-
ers in cottage industries, who were the first and the hardest hit by the develop-
ment of the mercantile ec-
onomy and the industrial revolution. |
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Duties & Functions |
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Federal Cooperatives has many duties to dischar-
ge. Broadly we can classify as follows: |
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Promotional activities |
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Regulatory duties |
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| Home > Souhard Act > Formation of New Cooperative |
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| Formation of New Cooperative |
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| How to become a Souharda Cooperative? |
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The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows |
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There should be at least ten persons. |
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These persons should be from different families. |
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These persons should be competent to enter into a contract under the Indian contracts Act 1872. |
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He should reside in the area of operation of the Cooperative. |
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He should be eligible as per the bye-laws of the proposed Cooperative. |
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Any individual, firm, company or any other body corporate can become member of the Cooperative. |
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Any Cooperative registered under this Act (For Union cooperative) or Societies registration Act 1860. |
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The object of the Cooperative should be promotion of economic interests or general welfare of the members or the public, in accordance with the co-operative principles. |
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It should be economically sound, its registration should not affect adversely on the development of the co-operative movement. |
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Its registration should not be contrary to the policy directives of the State government. |
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| Procedure of Formation of a Co-operative Cooperative : |
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The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows |
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Promoters meeting : Willing , eligible persons should come together and conduct a meeting, which is called as promoters' meeting. This meeting will decide the name of the proposed Cooperative, its object and bye-laws and then elect a Chief Promoter authorizing him to sign the necessary documents on behalf of the promoter members. |
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Collecting initial share capital : The Chief Promoter will apply to the Registrar of the concerned area for requesting to authorize to collect share-capital. The application shall consist of: |
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Prescribed application |
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Resolution of promoters' meeting |
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Proposed byelaw |
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Details of promoters |
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Registrar will authorize the Chief promoter to collect the share and direct him to deposit the collected share capital in a particular Bank. |
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Registration : After collection of the necessary share capital, the chief promoter shall apply for registration of the cooperative along with: |
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Prescribed application |
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5 copies of proposed byelaws |
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List of persons who have contributed to the share-capital and the entrance fee of the proposed Cooperative |
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Bank documents having been deposited share capital |
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Registration fees : 1% of the authorized share capital, subject to minimum of Rs.500/- and maximum of Rs. 5000/- |
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After scrutinizing the documents Registrar will register the cooperative |
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Election to first Board : After Registration the chief promoter shall call first General Body of the newly formed cooperative to elect its first board. |
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Beginning of activities : After election of first board, the President and Secretary can open the Bank account and may start activities of the cooperative. |
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The Karnataka State Souharda Sahakari Act, 1997 (Asmendent Act, 2004) KANNADA. |
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The Karnataka State Souharda Sahakari Act, 1997 (Amendent Act, 2004) ENGLISH. |
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