What Are The Features Of Cooperative Undertakings?

Features of cooperative undertaking:
The chief features of cooperative organization are:
(1) Body cooperate
The cooperative society is registered. Being a corporate body, it enjoys certain privileges which are enjoyed by company on its incorporation.
(2) Voluntary association
The membership of cooperative society is voluntary. Any person having a common interest can become the member of a society.

(3) One man one vote
        In a cooperative society, a member has only one vote irrespective of the shares            held by him. The principle of one man vote makes the society truly democratic.
(4) Service motive
A cooperative society is primarily set p for rendering service to its members in a particular field. A society is however not debarred to earn profit on the service provided to the non members.

(5) Distribution of profits
In case of partnership and company, the profit is distributed among members on the basis of capital held by them. In cooperative organization, the profile is distributed among the members on the basis of individual purchase made by them inv the trading year.
(6) Control and management
Each member has one vote in the cooperative society. The members elect the managing committee to carry on day to day affairs of the company. The managing committee carries out the policy as laid down in the general meeting of the society.