Question

The payments required to be made for acquiring rights of a member are:

(1) admission fees

(2) subscription to share capital

(3) affiliation fees

(4) membership renewal fees

• A. (1) only
• B. (1) and (2) Only
• C. (4) only
• D. (3) and (4) only

Answer 1

Answer:

B. (1) and (2) Only

The payments required to acquire the rights of a member are: Admission fees – Paid once at the time of joining. Subscription to share capital – Contribution to the cooperative’s capital to become a member