Registration procedures A society must fulfill the following requirements for

Registration procedures a society must fulfill the

This preview shows page 26 - 28 out of 55 pages.

Registration procedures A society must fulfill the following requirements for it to be registered 1 It must have in its objectives the promotion of economic interests of its members in accordance with the cooperative principles 2 Individuals who apply for the registration of a primary society must have attained the age of 18 years 3 There must be at least 10 applicants in case of primary society and two or more in the case of secondary society. The commissioner may insist a large membership in case it’s a savings and credit cooperative society 4 The applicant must be a resident within societies area of operation as described in the relevant by laws or occupy lands within the area Registration form An application form (4 copies) must be submitted to the commissioner for cooperative societies before a society is registered. The form is obtained from the commissioners offices. The from contains; 1 The address of the commissioner where the form is returnable 2 Area of operation 3 Name of the proposed society 4 Type of society whether primary apex or secondary 5 Whether a society is limited or unlimited 6 The language in which the books of a/c’s will be kept 7 Names of persons appointed to perform duties of the society 8 Registered office and postal address of the society The form must then be signed by at least 10 people qualified for membership in the case of primary society. For apex and unions it must be signed by a person duly authorized by its registered society.
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Every society must be guided by laws. The commissioner of cooperatives office has prepared model by laws which generally apply to cooperatives, persons wishing to form a cooperative a society need not to draft by laws, however if they decide to draft their own by laws they must conform with requirements of the cooperatives’ societies act and rules regarding matters that must be provided for in the bylaws. The bylaws must state; 1 The name of the society 2 Registered office and address 3 Objectives of the society 4 The purpose in which finds will be applied 5 Disposal of accumulated surplus 6 Qualification for membership terms of admission of new members 7 Provision for withdrawal of members their rights and obligations 8 General meetings and powers of such meetings Special restrictions on membership Upon recommendations of cooperative officer in the society’s area of operation the society is most likely to be registered by the commissioner. The act however provides that no company registered under the companies act or any unincorporated body or persons shall become a member except with written permission from the commissioner. The act also provides that no person can join more than one society with unlimited liability Registration with or without limited liability A cooperative society is said to be registered with limited liability if the liabilities of members are restricted by the amount to be paid on shares held by members. That’s members who have
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  • Spring '16
  • PROF Peter Kiithya
  • Cooperative, cooperative societies, cooperative society

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