Eber, C. (2000). Let them be in the middle, Lord: women, weaving and cultural survival in the highlands of Chiapas, Mexico. In Artisans and cooperatives: Developing alternative trade for the global economy, Grimes, K. & Milgram, B.L., ed. Tucson, Arizona: The University of Arizona Press. pp. 45-64. The cooperative is founded to support and financially support the members. The company makes the loan available to members who desperately need it, and the interest rate is also relatively low as private banks and non-bank financial corporations. The loan is granted from the deposits of the members. Village Service Co-operative Society and Urban Cooperative Banks are examples of a cooperative credit society.

Therefore, the formation of a cooperative would be a good option that wants to enter and leave the company effortlessly, but before leaving or joining the company, the person must fulfill all the obligations imposed on him and imposed on him by the cooperative. Cooperatives are organizations of people who have the same needs. Most scholars recognize the pioneer enterprise of Rochdale in England as the first cooperative. In 1844, this group of 28 men (weavers and skilled workers in other professions) formed a cooperative. They created business principles to guide their work and opened a store where they could sell their products. The increased pressure of the evolution of the market system was a driving force in their decision to move towards cooperation. The reasons for setting up a cooperative are: for example, people living in an area have problems getting a delivery of material, since their individual order does not meet the minimum requirement. So what they can do is get together and start a co-op, and that will not only solve the problem of delivering the material, but also help negotiate the price of the material and get a discount on bulk orders. They are usually trained to protect the interests of small producers by providing items of their needs for production such as raw materials, tools and equipment, machinery, etc.

This company helps negotiate the price of the items, as they would be able to do the same if they ordered the items in bulk. Loom companies such as APPCO, Bayanika, Haryana Handloom, etc. are examples of producer cooperatives. These companies are founded by small farmers to work together and thus reap the benefits of large-scale agriculture. Elevator irrigation cooperatives and panchayats are some examples of the cooperative agricultural society. The Indian Cooperative Societies Act, 1912 defines a cooperative under section 4 as “a corporation the purpose of which is to promote the economic interests of its members in accordance with cooperative principles.” So, if the association of people does not want unlimited liability, then the creation of a cooperative is a good option. It is a voluntary association of people where the person can voluntarily join as and when he wants, can continue as long as he wants and can leave society at will. The prerequisite for withdrawal is that the co-op receives notice. A person who joins a cooperative should assume full responsibility for membership, without gender, social, political or religious discrimination. Therefore, if an association of people wants to get a better return at lower risk, creating a co-op would be a good option, because it would be better than investing in stocks where the risk is comparatively high.

So, if an association of people wants an appropriate hierarchy to be followed and the decision to be made by vote, then the formation of a cooperative is a good option. The company is democratically run by a group of people known as the “board of directors.” They are the elected representatives of the company and are able to manage and manage the business smoothly and without problems or obstacles. Each member of the Board of Directors shall have a single vote, regardless of the number of shares held. For example, in a village credit company, the small farmer with one share has the same voting rights as an owner with 20 shares. A separate legal entity refers to the identity of the entity distinct from its members. The Company may enter into contracts and hold property on its behalf, sue and be sued by others. As it is an independent legal entity, it is not affected by the entry or exit of its members. A co-operative becomes an independent legal entity only if it has been registered under the Cooperatives Act and the liability of its members is thus limited. Cooperatives do not operate in isolation from their communities, but are integrated into society. Some offer different types of educational opportunities for non-members; Others support local projects that benefit their communities.

As individuals, members engage in groups outside of cooperatives and are seen as “people of action in their communities and beyond,” according to anthropologist Christine Eber. The values and principles of the cooperative are intended to support the structure of the cooperative, which in turn supports the structure of the company. Cooperatives seek to balance the needs of the individual with those of the community as a whole by promoting individual empowerment within the group`s membership and responsibility structure. In a 1997 article in the ICA Review, J. Langmore that cooperatives “promote the material conditions and well-being of members through their joint action; Members [have] a greater say in their lives through their voluntary association in organizations that are freely and democratically controlled by their members. The situation required new forms of organization that retained the old modes of production while ensuring the economic security of individual producers. Since the time of the Rochdale pioneers, the formation of cooperatives has continued and the concept of cooperative organization has reached many parts of the world. It will be really difficult for any person to get a loan for themselves as they can only store collateral/mortgages/guarantees. As a result, they can come together and integrate into society, thus easily raising funds for themselves. Individuals with a common interest can come together and form a cooperative. The minimum number of persons required for the establishment of a cooperative is 10 persons, and the maximum number of persons is not specified in the Law on Cooperatives.

However, after the creation of a cooperative, participants can limit the number of people by prescribing them when registering the cooperative. When registering a cooperative, it is placed under the control of the state, with all the details about the members and the company to be taken back submitted. The accounts must be kept by the cooperative, which must be submitted regularly and audited by the auditors appointed by the government agency. So if people have a common goal and interest, they can come together and start a cooperative. The number of participants in society would also not be a problem, as the highest could be decided by each other. The seven principles of the ICA of cooperatives are interpreted differently, but generally followed in one way or another in most cooperative organizations.

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