How To Form A Co-operative Society
According to the Co-operative Societies (Amended) Act, (1985) a group of people of a community or village numbering seven (7) or more and are 18 years or older can form a Co-operative Society.
They can organize themselves into groups to buy and own shares as members of the proposed Co-operative society.
They should also elect the board members and other officials to manage the society. The board members must be members of their Co-operative society.
Once this is done then they can request the appropriate forms to fill in which can be submitted to the Registrar’s Office for screening and full registration as Co-operatives. The Co-operative is now ready to begin operation as a Co-operative from the money that people put together.