working culture of coperatives

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WORKING CULTUREOFCO OPERATIVES : 

XIDAS,JABALPUR 1 WORKING CULTUREOFCO OPERATIVES BY SAILENDU NANDA (CDM)

Bylaws : 

XIDAS,JABALPUR 2 Bylaws The co-op’s bylaws provide a more detailed description of the cooperative’s internal structure and operations.  They are a set of written rules for how the co-op will function and govern itself.  Bylaws are not usually filed with the state in which the co-op will operate, but they are considered legally binding on the cooperative and its members.

RIGHTS OF THE COPERATIVES MEMBERS : 

XIDAS,JABALPUR 3 RIGHTS OF THE COPERATIVES MEMBERS Every member has one vote in the affairs of the Society irrespective of number of shares held. All the members have right to contest election for the post of Director. The members have right to get dividend on their shares if there is surplus. Members have the right to propose any resolution and to participate in the affairs of the society. A member in combination with other member has right to request for calling the special general body meeting of the society if the situation so demand. The member has and also right to approach the Registrar to know about his rights and also bring to the knowledge of Registrar any irregularities noticed by him

DUTIES : 

XIDAS,JABALPUR 4 DUTIES A member should remain loyal to the society. He should adhere to the constitution of the society and faithfully assist the management in carrying on their duties. He should follow a code conduct in his behavior with the other members of the society. He should also repay loan/dues from him in time to the society. He should not shy away from actively participating in the General Body Meeting. He should carefully go through the Audit Report and Annual Report submitted before the General Body and offer his suggestions and point out remedial measures to rectify the irregularities.

POWER AND FUNCTIONS OF GENERAL BODY : 

XIDAS,JABALPUR 5 POWER AND FUNCTIONS OF GENERAL BODY The powers and functions of a General Body of a Cooperative Society in brief are:- To approve the programme of the activations of the society prepared by the Managing Committee for the en-suing year. To conduct election if any, To approve the Audit Report and the Annual Report. To decide the manner of disposal of the net profit. To deliberate and approve the Annual Budget. To decide about the expulsion of members if found indulged in anti-society activities as per provision of byelaws. To write off bad debts subject to approval of the Registrar of Cooperative Societies.

Duties of Directors : 

XIDAS,JABALPUR 6 Duties of Directors States the director’s specific powers and responsibilities, including: guiding the cooperative and articulating its mission, goals, and policies and periodically reviewing those goals.  Authorizes directors to employ a manager, define the manager’s duties, determine his or her compensation and evaluate his or her  job performance.  Specifies the director’s responsibility to maintain an appropriate accounting system and have the co-op’s books audited or reviewed annually.  This section also specifies the board’s responsibility to indemnify directors, officers and management against liability.

Slide 7: 

XIDAS,JABALPUR 7 Specifies the duties of the president, vice president, secretary, and treasurer.  Also describes the terms of officers and excused absences from board meetings. Membership Capital Contributions. Specifies the required equity contribution by members and the method by which the co-op will collect the contribution; what type of stock the cooperative has the authority to issue; and any requirements regarding the co-op’s stock certificates.

Profits and Losses : 

XIDAS,JABALPUR 8 Profits and Losses Specifies how the co-op’s profits, if any, will be distributed based on each member’s patronage with the co-op.  In addition, any losses experienced by the co-op must be allocated across the membership.

Dissolution : 

XIDAS,JABALPUR 9 Dissolution Identifies a procedure for dissolving the cooperative, and specifies the distribution of any remaining assets.

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