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asked 7 months ago
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A cooperative society is an economic entity aimed at empowering people with limited means. Such society is formed when a specified number of people bringing their resources to undertake a particular legal activity. The organisation function on a democratic line with each investor having one vote irrespective of quantum of investment made in the organisation. This is unlike the case of joint stock company wherein the value of individual vote depends on quantum of investment made. A cooperative society is expected to function on the basis of cooperative principles as defined by the International Cooperative Alliance [ICA].
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