3. Irrespective management of a co-operative society is democratic. Explain the meaning, features, merits and demerits of cooperative society. The cooperative society follows democracy and hence finds support from the Government in the form of low taxes, subsidies, and low interest rates on loans. Easy Formation: -A co-operative society can be formed easily.Minimum ten members required for the registration of co-operative society. 1. Disadvantages of a Cooperative Organization: 1. The UK also has a number of autonomous consumers' cooperative societies, such as the East of England Co-operative Society and Midcounties Co-operative. Answer: A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. The nature of co-operative organization is service oriented. Advantages. Anypersonwithcommoninterest can become a member. Features: Voluntary association: Everyone having a common interest is free to join a cooperative society and can also leave the society after giving proper notice. The membership of a cooperative society is opentoall. Advantages and Disadvantages of co-operative societies . Co-ops first appeared in New York City in the late-1800s and became popular in Washington, DC in the 1920s. Features: This is one of the most prominent objectives of all co-operative societies. Thus, the term cooperation means working together. It has less incentive, and there’s also a possibility of development of conflict between members. In this type of society, the land of the individual members is taken by society, but the ownership remains at the members. A cooperative society is a business organization and operated by a group of individuals for their mutual benefit. A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. Types Of Co-operative Societies 4. Voluntary organization. The following are some of the important advantages of co-operative societies. Cooperative buildings, or “co-ops,” are a unique housing option, typically found in a limited number of U.S. urban markets. The world's largest consumers' cooperative is the Co-operative Group in the United Kingdom, which offers a variety of retail and financial services. The Advantages and Disadvantages of Co-op Housing . Ease of formation: The cooperative society can be started with a minimum of ten members and is governed by the provisions of Cooperative Societies … 2. Then any adult member can join hands to start co-operative society. It requires members to participate for success. The membership of cooperative societies is voluntary. Protection from exploitation: One of the most obvious advantages of a co-operative society is the fact that the members are protected from exploitation from middlemen. By: REBAC Staff. Extensive record keeping is necessary in this form of organization. Meaning Of Co-operative Society 2.Features Of Co-operative Society 3. Merits and Demerits of Co-operative Society? Meaning Of Co-operative Society. Features Of Cooperative Societies Voluntary Association. Disadvantages Of Co-operative Societies. As per the prevailing legislation, cooperative society cannot be formed unless and until a … Introduction: - A Co-operative society is a voluntary association of people who come together on the basis of unity and equality to protect and promote their common economic interest. Advantages Of Co-operative Societies 5. A cooperative organization entails longer decision-making process. 4. Merits of Co-operative Societies are as Follows:. 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