A cooperative society registration in Rajasthan is not a new concept. It prevails in all the countries; this is almost a universal concept. The cooperative society is active in all countries worldwide and is represented in all the sectors including agriculture, food, finance, healthcare, etc.
To protect the interest of weaker sections, the co-operative society is formed. It is a voluntary association of persons; whose motive is the welfare of the members.
Features of a cooperative society registration in Rajasthan
As it is a voluntary association, the membership is also voluntary. A person is free to join a cooperative society, and can also leave anytime as per his desire. Irrespective of their religion, gender & caste, membership is open to all.
It is compulsory for the co-operative society to get registration. The co-operative society is a separate legal identity to society.
It does not get affected by the entry or exit of its members.
There is limited liability of the members of the co-operative society. Liability is limited to the extent of the amount contributed by the members as capital.
An elected managing committee has the power to take decisions. Members have the right to vote, by which they elect the members who will constitute the managing committee.
The cooperative society works on the principle of mutual help & welfare. Hence, the principle of service dominates it’s working. If any surplus is generated, it is distributed amongst the members as a dividend in conformity with the bye-laws of the society.
Types of Cooperative society registration in Rajasthan
To protect the interest of small producers, these societies are set up. The co-operative society members may be farmers, landowners, owners of the fishing operations. To increase the marketing possibilities and production efficiency, producers decide to work together or as separate entities. They perform several activities like processing, marketing & distributing their own products. This helps in lower costs and strains in each area with a mutual benefit to each producer.
These businesses are owned and governed by consumers of a particular area for their mutual benefit. Their view is to provide daily necessary commodities at an optimum price. Rather than earning a pecuniary profit, their aim is towards providing service to the consumers.
Credit unions are generally member-owned financial cooperatives. Their principle is of people helping people. They provide credit and financial services to the members at competitive prices. Each and every depositor has the right to become a member. Members attend the annual meeting and are given rights to elect a board of directors.
With the aim of helping small producers in selling their products, these societies are established. The producers who wish to obtain reasonable prices for their output are the members of this society. For securing a favorable market for the products they eliminate the middlemen and improve the competitive position of its members. It collects the output of individual members. Various marketing functions like transportation, packaging, warehousing, etc are performed by the cooperative societies to sell the product at the best possible price.
To help people with limited income to construct houses at reasonable costs, these societies are established. Their aim is to solve the housing problems of the members. A member of this society aims to procure the residential house at a lower cost.
They construct the houses and give the option to members to pay in installments to purchase the house. They construct flats or provide plots to members on which the members themselves can construct the houses as per their choice.
The documents required for Cooperative society registration in Rajasthan from the founder member's of are:
Pan Card/Aadhar card/Voter Id- Mandatory
Voter ID/Passport / License
Two passport photo
Email, Mobile No, Profession, Qualification, and Duration of stay at present address
Min. 15 Member Note:- Min. 7 from different District, No blood Relation
Electricity bill/Other Utility Bill of the proposed registered address
NOC or rent agreement from the owner of the premises
Affidavit by President
Note:- All document must be scan from the scanner with good quality
The Rajasthan co-operative Society registration process can be completed in around 50-60 working days after all document received completely from the customer side; as follows:-
Preparation of documents – 4 days
BRN Generation – 3 day
Name Approval Search – 2 days
Filing of form – 2 days
Approval from ministry – 30-40 days
To form a society, the law mandates that 10 members minimum must show an intention to be part of the society having the same aim and objective to be achieved through the society for their mutual benefit and thereby be desirous to be part of it.
Once a group of individuals has a desire to form a society the next step should be there must be a provisional committee of which everyone is part of and all of them should by mutual consent or by majority whichever their prefer must choose a person who will be a chief promoter of the society which is going to be formed by them.
Thereafter once a chief promoter is selected by a set of individuals among them, they have to select a name for the co-operative society which they wish to form.
Once the name of the society is selected by the members then they have to make an application to the registration authority stating that they have an intention to form a society and the name of the society has to be given to the authority for its approval and registering authority has to confirm that name is in conformity with laws and issue a confirmation certificate to the members. Then when the members get their name approval from the authority it is valid for 3 months from the date of approval.
Thereafter once name approval comes from the concerned authority, the entrance fee and the share capital must be collected from the concerned prospective members to meet the statutory requirements under the law and it can be prescribed by the members themselves or society act mandates certain fees to be paid by them.
Thereafter once the prescribed fee and share capital is collected from the prospective members, then as per the directions of the registering authority promoter has to open a bank account in the name of the society and deposit the said fees and share capital in that account and a certificate has to be obtained from the bank to that effect.
Once the bank formalities are completed then the promoter has to apply for the social formation to the registration authority and it has to be accompanied with a set of documents, they are
Form No. A in quadruplicate signed by 90% of the promoter members
List of promoter members
A detailed explanation of the working of the society.
Four copies of proposed bye-laws of the society.
Proof of payment of registration charges.
other documents such as affidavits, indemnity bonds, any documents specified by the Registrar also have to be submitted.
All these documents have to be submitted at the time of applying for registration of the society to the registering authority and the authority after it is satisfied with the documents submitted to it has to apply its mind to whether or not to register the said society.
After the submission of the said documents has mentioned in step 7, the registrar of that municipal ward has to enter the particulars in the book called the “register of Application” which is generally specified in form B and give it a serial number to the application. Thereafter the registrar has to issue a receipt to that effect and give it to prospective members to know the status of the application when it is pending. Then the registrar after perusal of the records submitted to him/her has to make a decision whether to issue a certificate of registration or not and if there are any discrepancies noticed then he/she has to inform the members of the same and get it rectified if any.
The last step is that the registering authority after being satisfied with the documents meeting the legal requirements will notify the registration of the society in the official gazette mentioned by the state or central government and should issue the registration certificate of the society and give it to the members of the society.
Best Legal Consultant for State Cooperative Society registration in Rajasthan. call 0141-4455144 for best Society registration offer.