Societies are registered under the Societies Registration Act, 1860. The main instrument of any society is the memorandum of association and rules and regulations. A Society needs a minimum of seven managing committee members; there is no upper limit to the number managing committee members. The Board of Management is in the form of a governing body or council or a managing or executive committee. The Objects are Literary, Charitable, Scientific and resource oriented etc.
Benefits Of Society Registration:
1) EASY TO FORM:The formation of a cooperative society is very simple as compared to the formation of any other form of business organizations. Any ten adults can join together and form a cooperative society. The procedure involves in the registration of a cooperative society is very simple and easy. No legal formalities are required for the formation of cooperative society.
2) NO OBSTRUCTION FOR MEMBERSHIP:Unless and otherwise specifically debarred, the membership of cooperative society is open to everybody. Nobody is obstructed to join on the basis of religion, caste, creed, sex and color etc. A person can become a member of a society at any time he likes and can leave the society when he does not like to continue as member. LIMITED LIABILITY: In most cases, the liabilities of the members of the society are limited to the extent of capital contributed by them. Hence, they are relieved from the fear of attachment of their private property, in case of the society suffers financial losses
3)SERVICE MOTIVE :In Cooperative society members are provided with better good and services at reasonable prices. The society also provides financial help to its members < the concessional rates. It assists in setting up production units and marketing of produces c small business houses so also small farmers for their agricultural products. MANAGEMENT: The cooperative society is managed by the elected members from and among themselves. Every member has equal rights through its single vote but can take active part in' the formulation of the policies of the society. Thus all member are equally important for the society.