How do I start a cooperative society?
How do I start a cooperative society?
Starting a Cooperative
- Establish a steering committee. You need to have a group of people who represent the cooperative’s potential members.
- Carry out a feasibility study.
- Draft Articles of Incorporation and Bylaws.
- Create a business plan and recruit more members.
- Secure financing.
- Launch.
What is the minimum number of people required to form a cooperative society in Kenya?
1. The minimum number of persons required to form a Co-operative is ten (10). The Group should elect a Steering Committee from its members. 2.
How is the formation of a cooperative society Easy?
Easy Formation: The process of setting up a cooperative society is simple. A voluntary consent of at least ten adult persons is required to form a cooperative society. The capital of a society is raised from its members through the issue of shares. The society acquires a distinct legal identity after its registration.
How many members are needed to form a cooperative?
– A cooperative may be organized and registered by at least fifteen (15) persons for any or all of the following purposes: aisa dc (1) To encourage thrift and savings mobilization among the members: (2) To generate funds and extend credit to the members for productive and provident purposes; (3) To encourage among …
Where can I register a cooperative?
The Cooperative Development Authority (CDA) is the sole government agency mandated to register all types of cooperatives. Its main office is located at 827 Aurora Blvd., Immaculate Conception, Quezon City. For registration of primary cooperatives, this power has been delegated to the Regional or Extension Offices.
How long does it take to register a cooperative?
On average it takes 2 to 4 weeks for the registration process to be completed, if all forms and the constitution is completed correctly. When the co-operative is registered, the Secretary will receive the certificate of registration and the registered constitution, through the post.
How do you register a cooperative society in UP?
Step 1: To register a society in Uttar Pradesh, submit the application and the affidavit in a prescribed format along with the supporting documents to concerned Registrar. Step 2: Draft a Memorandum of Association and By-Laws of the Society in duplicate with signatures of at least three members on all the papers.
Where will you register a cooperative?
The Cooperative Development Authority (CDA) is the sole government agency mandated to register all types of cooperatives.
What is a co-operative Society in Kenya?
The co-operative Societies Act, Chapter 490 of the Laws of Kenya, states that for a society to be registered with or without limited liability, it has to have its object as the promotion of the welfare and economic interest of its members and has incorporated in its by-laws the following co-operative principles: (i) voluntary and open membership;
What is a Societies Registration in Kenya?
Societies in Kenya register under Societal Act. A society will not function if they don’t have an authorization from the Registrar, this means if the society takes contribution or donation from its members then it will be considered unlawful. Chairman, treasurer, and secretary should be listed.
How to register a co-operative Society?
To complete and submit an application to the Registrar of Co-operative Societies. To submit 3 copies of the proposed by-laws. Registration is free of charge. How to run a co-operative society?
What is the Co-operative Societies Ordinance?
The Co-operative Societies Ordinance, Cap 33 enshrines the Co-operative Principles and the Director of Agriculture, Fisheries and Conservation is appointed as the Registrar to register and regulate co-operative societies.
