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 the Management Committee. The process generally involves the following steps:

1. Application Submission: Prospective members submit an application for membership, often along with any required fees or documentation.

2. Review Process: The Board reviews the applications based on criteria outlined in the cooperative’s bylaws, which may include factors such as eligibility, intent to participate, and alignment with the cooperative’s objectives.

3. Approval and Admission: Once an application is approved, the new member is admitted to the society. This decision is usually documented in the minutes of the Board meeting.

4. Share Allocation: Upon admission, the new member is allocated shares in the cooperative, typically based on the cooperative's policies regarding share capital. The allocation may be a fixed number of shares or proportional to the member’s investment.

5. Member Rights: All members, regardless of the number of shares held, typically have equal voting rights in decision-making processes, reflecting the cooperative principle of democratic control.