Question

In a co-operative Society, admission of members and allocation of Shares is done by

• A. Secretary
• B. Managing Committee.
• C. president
• D. General Body

Answer 1

Answer:

B. Managing Committee.

In a cooperative society, the admission of members and allocation of shares is typically done by the Board of Directors or Management Committee. The specific process often involves the following steps:

1. Application Process: Interested individuals usually need to submit an application for membership, which may include providing personal information and agreeing to abide by the cooperative's rules.

2. Approval by the Board: The Board of Directors reviews the applications and decides whether to accept new members based on criteria set in the cooperative's bylaws.

3. Allocation of Shares: Once a member is admitted, shares are allocated according to the cooperative’s rules. This may involve issuing a specific number of shares or assigning a certain value based on the member's contributions.

4. Member Rights: Each member typically has equal voting rights, regardless of the number of shares held, which ensures democratic participation in decision-making.