What is associate member in society?

According to Maharashtra Co-operative Societies Act 1960 – “Associate member” means a member who holds jointly a share of a society with others, but whose name does not stand first in the share certificate.” This makes him a legitimate member of the society, if only after the original member.

Who can be an associate member?

“Associate Member” means husband, wife, father, mother, brother, sister, son, daughter, son-in-law, daughter-in-law, nephew, niece a person duly admitted to Membership of a housing society on written recommendation of a Member to exercise his rights and duties with his written prior consent and whose name stand as 2nd …

What does associate membership in Indian Cooperative mean?

Associate members have been getting a raw deal all along the inception of the M. C. S. Act 1960. “Associate member ” means a member who holds jointly a share of a society with others, but whose name does not stand first in the share certificate (Section 2 (19) (b) of the M. C. S. Act 1960 and Bye Law No 3 (xxiv) (a))

Who is an associate member of Maharashtra cooperative society?

Section 2 (19) of the Maharashtra Cooperative Societies Act says an associate member jointly holds a share of the society with others, but whose name is not first in the share certificate.

What is the definition of Co-operative Society in India?

Part I Co-operatives Societies in India Some selected definitions of co-operatives 1. “A form of organization in which persons voluntarily associate together as human beings on the basis of equality for the promotion of the economic interest of themselves” H Calvert.

How many members do you need to form a co-operative Society?

A minimum of ten members are required to form a cooperative society. The Co operative societies Act do not specify the maximum number of members for any co-operative society. However, after the formation of the society, the member may specify the maximum number of members.