What are the 7 universally accepted cooperative principles?
These principles have been refined, adapted, and reinterpreted over time. The seven principles used by the International Cooperative Alliance today are generally accepted by cooperatives worldwide. Cooperatives are also based on the values of self-help, self-responsibility, democracy, equality, equity, and solidarity.
What are the 3 primary cooperative principles?
Cooperative Principles
- Open and Voluntary Membership.
- Democratic Member Control.
- Members’ Economic Participation.
- Autonomy and Independence.
- Education, Training, and Information.
- Cooperation Among Cooperatives.
- Concern for Community.
What are the sources of cooperative law in Nigeria?
Sources of Co-operative Societies Law of Nigeria a) General provisions of the Constitution of the Federal Republic of Nigeria, 1999. b) The Nigeria Co-operative Societies Act, 2004 Cap N98. c) States Co-operative Societies Law and Regulations made pursuant to the State laws d) Bye-laws of individual societies.
What is the constitution of a cooperative society?
A cooperative Society is not a constitutional body. It is a voluntary association of individuals having common needs who join hands for the achievement of common economic interests. Its aim is to serve the interest of the poorer sections of society through the principle of self-help and mutual help.
What is the importance of bylaws in cooperative?
When founding your cooperative, the bylaws are an important part of the process. The bylaws can be amended at the annual general meeting and define the organization and its running.
What is the most common cooperative?
Consumer cooperatives are a specific type of purchasing cooperative where consumers gain access to products and services. Food cooperatives are grocery stores that are structured as a co-op, and it is the most common type of consumer co-ops.
What are bye-laws?
Byelaws are local laws made by a local council under an enabling power contained in a public general act or a local act requiring something to be done – or not done – in a specified area.
Who controls a cooperative society?
As the vast majority of co-operative societies are operating only in one State, the State Government and the Registrar of Co-operative Societies appointed by the State are the main regulatory authorities for the co- operative societies.
What is meant by bye-laws of a cooperative society?
Bye-laws include the objects of the society and completely define and restrict the society’s activities, but the rights and liabilities of members are determined by the Act and not by the bye-laws as such. The bye-laws are the basic structure of the society and are binding on the members.
What are the 3 functional types of cooperatives?
Types of Co-ops
- Consumer Cooperatives. Consumer cooperatives are owned by members who use the co-op to purchase the goods or services that they need.
- Worker Cooperatives.
- Producer Cooperatives.
- Purchasing or Shared Services Cooperatives.
- Multi-stakeholder Cooperatives.
Is there any law for bye-laws for co-op societies?
c) Presently, there is no law, which mandates that pre-printed bye-laws and /or bye-laws, prescribed by the Coop. Dept., or the District Federation, should be adopted, which again will not be tenable under the Law. Therefore a Coop. Society, need not adopt the static model bye-laws available in the open market and in a website.
Is there any model bye law for cooperative societies in Gujarat?
There is no provision for model bye-laws under the Act or Rules. However, Gujarat State Cooperative Union and District Cooperative union are getting the bye-laws printed for the facility of the public. List is illustrative and can have more details as per the requirement of each society.
Can a coop amend its bye-laws?
Here the Coop. Registrar has no jurisdiction to restrain or restrict the Society from repeatedly amending its Bye-Laws. g) Coop. Society Bye-Laws can be freshly formulated by themselves or thru an legal expert. This is done after considering various aspects and needs of the specific society.
What do you mean by bye laws?
“Bye-laws means bye-laws registered under this Act and for the time-being in force, and include registered amendments of such bye-laws. “ Under Sec. 9, the bye-laws of the society are also registered along with the registration of the Society if the bye-laws are not contrary to the Act and the Rules.