Cooperative Societies Act

The Cooperative Societies Act is a law that provides a legal framework for the formation, registration, regulation, and functioning of cooperative societies. These societies are member-owned organizations formed to meet common economic, social, or cultural needs—like saving, credit, or purchasing. The Act ensures transparency, democratic decision-making, and accountability within societies, protecting members' interests. It also sets rules for management, audits, and dispute resolution, fostering trust and stability in cooperative activities. Overall, the Act promotes cooperation among members to achieve mutual benefits while maintaining legal and operational standards.