RAISING OF FUNDS

  1. Share CaPital
  2. Admission Fees.
  3. SubscriPtion.
  4. Loans, Cash Credits, Overdraft from any bank or financial institutions
  5. Donations, grants and subsidies.
  6. Donations, grants and subsidies.
  7. Contributions from members.
  8. Profit

SHARES

  • The authorized Share Capital of the Society is Rs. One Crore divided into One Lacs shares of Rs.100l (One Hundred) each.
  • Money on shares shall be paid in full at one time and Share Certificates shall be issued on realization of the full amount subscribed for.
  • The Society at its General meeting, may from time to ilme, increase the authorized share capital by creation of new shares oi such number and amount as may be deemed expedient with the prior approval of the Central Registrar.
  • No member other then the authorities referred to in clauses (c) to (g) of sub section 1 of section 25 of the Act, shall hold more than 1\5th of the total share capital of the Society.

WITHDRAWL AND RESIGNATION OF MEMBER

  • A member may withdraw and resign from the membership after two years,and giving at least 3 months notice in writing and withdraw his share capital with the approval of the Board of Directors. The approval shall not be given while such a member is indebted, to the society. During any co-operative year, the aggregated withdrawals shall not exceed 10% of the total paid-up share capital as on 31st March of the preceding year.
  • A member who withdraws or resigns from the membership will not be allowed to become a member agian for a period of two years from the date of his resignation unless he repays the amount withdrawn by him from the society.

VIABILITY AND PROFITABILITY

  • The Agricop is being promoted for providing expert technique in the field of Agriculture production, purchase of agro products, seeds, fertilizers farm equipments with a purpose to promote social and economic betterment of the members through self help and mutual aid in accordance with the Cooperative principles.
  • The objectives will be achieved through facilitation, coordination and promotion of the marketing and trading activities of the cooperative institution in agriculture and other commodities, articles and goods..
  • The Agricop will be able to conduct business and pass on the benefit of large scale operations to the members of the Society. The society will also provide storage facilities to promote the businesses of the members.

MEETINGS OF THE BOARD OF DIRECTORS

  • The majority shall decide any question brought forward for discussion at the meeting of the Board of Directors. ln case of equality of votes, the chairman shall have a casting vote.
  • The proceeding of tlre meetings of the Board shall be recorded rn the minute book to be kept for the Purpose.
  • The chief Executive shall convene the meeting of the board at the instance of the chairperson of the Society.
  • The Board oi Directors shall meet at least once in every quarter.
  • The meetings of the Board of Directors shall normally be held at the  registered
    office of the society, ln exceptional cases, the meetings of the Board may be held at any other place as decided by the Board but within the area of operation of the Society.
  • The meetings of Board of Directors shall be presided over by the Chairman or in his absence by the Vice Chairman and in the absence of both Chairman & Vice Chairman, the Directors Present in the ,meeting shall elect a Chairperson for the Meeting from among themselves.
  • Seven days notice shall ordinarily be necessary for the meeting of the Board of Directors.
  • The quorum of the board meeting shall consist of four elected directors.