To a reserve fund for meeting unanticipated losses. No multi state cooperative society should make a contribution either in money or in kind, whether straight or indirectly, to an institution which has an object of furtherance of the interest of a political celebration. There is a restriction on loan as well. No cooperative society besides cooperative bank will make a loan to a member on the security of this share or on the security of a non-member. But the society can make a loan to a depositor on the security of this deposit. The multi mention society my receive deposits, raise loans and get grants from external sources to such extent and under such conditions as may be pointed out in the memorandum provided that the total amount of loans and deposits received throughout any financial year will not surpass ten times of the sum of subscribed share capital and gathered reserves. The net accumulated reserves is computed by subtracting gathered losses from gathered reserves.
Time Considered registration: -.
Usually, the maximum time period for a multi state cooperative society registration is 4 months. In case, the application gets an objection, in that case, the application can be filed once again and in specific circumstances, the society registration can be done earlier likewise on the basis of earlier rejections or on political pressures.
Registration, the change proposition is also filed in the Ministry of Agriculture. It takes normally 3 to four months. It is very uncommon that modification proposition is turned down. If we want to enhance our area of operation i.e. number of states or enhance our authorized share capital or change our name or change our workplace address, we can submit modification.
The papers filed in addition to modification proposal are bank statement, audited balance sheets providing net earnings and turnover. The ministry demands justification and proper reasons why a society proposition need to be modified.