The short answer
A multi-state cooperative society is a cooperative whose objects and members extend beyond a single state. It is registered under the Multi-State Co-operative Societies Act, 2002, and not under the cooperative law of an individual state.
How it differs from a state cooperative society
A society that operates in one state is registered with that state's Registrar of Cooperative Societies under the state law. A multi-state society is registered with the Central Registrar of Cooperative Societies, which functions under the Ministry of Cooperation, and follows the central Act and rules.
What compliance typically involves
- Bye-laws that describe the objects, membership, management and area of operation.
- Annual general meetings with proper notice, agenda and minutes.
- Audit of the society's accounts under the Act and rules.
- Returns and intimations to the Central Registrar.
- Maintenance of books, registers and member records.
Where a chartered accountant helps
A chartered accountant can help prepare the bye-laws and application, keep the accounts in order, carry out the audit and support the society with meetings and filings. Because the law has been amended from time to time, it is sensible to confirm the current requirements before acting.
Questions to settle first
- Will the society's objects and members really span more than one state?
- Who will be the promoters and the initial members?
- What activities will the society carry out?