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

ASecretary

BManaging Committee.

Cpresident

DGeneral Body

Answer:

B. Managing Committee.

Read Explanation:

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.


Related Questions:

The process in which people help each other and they are called associated with each other is

Pillars of corporate governance facilitates

  1. All members are responsible and accountable for their decisions and actions.
  2. Participation of members is needed.
  3. Cooperatives must be audited regularly.
  4. No secret deals should be there in cooperatives.
    The first Diary Cooperative Society was registered in 1913 at …
    The book 'People's Banks for Northern India' was written by whom among the following?
    Annual General Body Meeting of a Co-operative Society should be convened within how many months from the close of the financial year?