write a short note on cooperative societies
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A co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
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A co-operative society is another means for forming a legal entity to conduct business besides forming a company. It pools together human resources in the spirit of self and mutual help with the object of providing services and support to members.
- The Co-operative Principles under which a co-operative society operates and carries out its business are :-
- Voluntary and open membership.
- Democratic control, one member one vote.
- Autonomy and independence.
- Promoting economic activities.
- Promoting education and information technology.
- Co-operation among co-operatives.
- Concern for the social and ecological environment.