The net profits of a multi state cooperative societies referred in respect of a society earning profits shall be calculated by deducting from the gross profit for the year, all interest accrued and accruing in relation to amounts which are overdue, establishment charges, interest payable on loans and deposits, audit fees, working expenses including repairs, rent, taxes and depreciation, bonus payable to employees under the law relating to payment of bonus f

The cooperative movement involves autonomous association of persons united voluntarily to meet their common economic, social and cultural needs through a jointly owned and democratically controlled enterprise. cooperative society, as business enterprises, is different from other firms, in view of the fact that their ownership and control are directly vested in the hands of the members. The cooperative structure is designed on the principles of mutual help, democratic decision making and open membership.

Power of central government to make rules in multi state society:-(1)The central government may, by notification in the official Gazette, make rules for carrying into effect the provisions of this Act.

Transitional provision relating to certain multi state cooperative society (1) Where in respect of any cooperative society specified in the fifteenth Schedule to the Punjab Reorganization Act, 1966, which under the provisions of Sub section (1) of Section 5-A would become a multi state society, the Board of Directors adopts, by a majority of not less than three fourths of the directors, any scheme for the reconstitution, reorganization or dissolution of the society, including proposals regarding(a) the formation of new co-operative societies and

Cooperative society registration

The multi state cooperative society registration in which this Act applies registered before commencement of Act(l) A cooperative society to this Act applies which has been registered in any under the law relating to cooperative society in force in that shall be deemed in any other to which its objects extend to be duly registered in that other under the law there in force relating to m

Share or contribution or interest Not Liable to Attachment in multi state society to the provisions the share or contribution or of a member or past or deceased member in the capital of a shall not be liable to attachment before award or sale under any or order of any court in respect of any debt or liability incurred by member, and an official assignee or a receiver under any law relating every shall not be entitled to, or have any c

Privileges of Multi state cooperative Society 

(1) The Board may be Committees of Board in multi state cooperative societies subject to such conditions as may be prescribe constitute an executive committee and other committees or sub committees as may be considered necessary: Provided that other committees or sub committees, other than the Executive Committee shall not exceed three. (2) The committee or other committees or sub committee referred to in sub section (1) shall perform such functions as are assigned it in accordance with the bye-laws.

The multi state cooperative society movement in our country shall not only stay but also grow in times to come. In spite of the drawbacks experienced in the working and administration of the cooperative societies, they have positively contributed to the growth and development of the national economy. Promotion of thrift, self-help and mutual aid are the fundamental principles of cooperation.

Notwith standing anything contained in this Act, no person shall be hold, at the same time, office of a President or Chairperson or Vicesident or Vice-Chairperson on the Board of more than two cooperative society Section 46 of the 2002 Act is corresponding to Section 36 of the 1984 Act .owing changes have been brought in the 2002 Act: (1) In 1984 Act provision was in respect to holding of office for more than multi state cooperative society, however, in the 2002 Act the number has been increased to two (2) Provisos to Section 36 of the 1984 Act