Co-Operative Principles
1. Membership of a multi-State co-operative society (hereafter in this Schedule referred to as the society should be voluntary and open without any social, political, or religions discrimination to all persons who can make use of its services,
2. In a society other than that with institutional membership, individual member should enjoy equal rights of voting - one member, one vote.
3. (i) Surplus or savings, if any arising out of the operations of the society belong to the society as a whole, and no individual member has a claim to the surplus.
(ii)
The surplus should he utilised for all or any of the following purposes, namely :-
(a)
providing for development of the business of the society:
(b)
providing services for the common enjoyment of members:
(c)
distribution among the members in proposition to their transactions with the society.
4. The society should undertake education of its members, officer-hearers and employees and the general public regarding the principles and practice of co-operation.
5. The society should actively co-operate in every practical way with other co-operative societies at local, national or international levels.
6. The share capital of a society shall receive strictly limited rate of interest (that is to say dividend).
7. The affairs of a society should he administered by the management in accordance with democratically expressed will of the members.
8. The management of the society is accountable to its own members.