The Advanced Co-operative Society was registered under the Co-operative Societies Act, 1912. This act was passed to provide for the organization of cooperatives and to amend the law relating to them.
The Co-operative Societies Act, 1912 applies to the whole of India, except for territories that were part of Part B States before November 1, 1956.
Cooperative societies are business organizations that are formed to help their members. They are usually formed by weaker sections of society to protect themselves from exploitation by the more economically powerful. Members of the society raise capital among themselves.
Cooperative societies are democratically managed, with each member having one vote, regardless of their shareholding
