This
statement is True.
i. Co-operative
society is a society which has its objectives for the promotion of economic
interests of its members in accordance with co-operative principles.” (Indian Co-operative Societies Act1912).
ii. Service
is the main motive of the Co – operative organisation, even though earning reasonable
profit is a secondary motive.
iii. One
member one vote is the principle of Co – operative organisation which is different
from one share one vote in other organizations.
iv. Membership
is open to all irrespective of caste, creed, rich and poor etc. Surplus if any left
after the detecting the expenditure from the Income is distributed among members.
v. Thus
we can say that, Co – operative Society differs from other forms of commercial
organizations
