Commerce SSS2 First Term
The student should be able to:
1. Describe the formulation of a co-operative society.
2. List their characteristics.
Definition of Co-operative Society
A co-operative society is a voluntary organization in which individuals, traders and businessmen with common interest pool their resources together to promote the welfare interest of their members. It is controlled by the members.
Formation of a Co-operative Society
A co-operative society is recognized in law as a legal person. It can own property, enter into a contract, as well as sue and can be sued. Therefore a co-operative society must be registered before it begins operation. A co-operative society is formed by.... View More
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