Limited liability: The liability the members is mostly limited to the value of the share held by them. Less Taxation. Housing Cooperative Society: This committee is formed to help the members who need lands and houses. Marketing Cooperative Society: These societies are formed with the objective of providing small producers a platform to sell their products at affordable prices and also eliminate middlemen from the chain, thus ensuring adequate profits. It has less incentive, and there’s also a possibility of development of conflict between members. A cooperative organization entails longer decision-making process. It thus helps in raising the standard of living of the members. 9. Similar to an LLC, cooperatives that are incorporated normally are not taxed on surplus earnings (or patronage dividends) refunded to members. 2. State Co-Operative Bank:-These are the main co-operative banks in an every states and provide finance to the all central co-operative … Easy to form: The formation of a cooperative society is very simple as compared to the formation of any other form of business organisations. In addition, it enjoys the following advantages also. Any ten adults can join together and form a co-operative society. Disadvantages of a Cooperative Organization: 1. Merits of Co-operative Societies. 1. Advantages of a Cooperative. It promotes saving habit, self-help and other moral values in the society. 3. Being a body corporate, the co-operative society gets all the advantages and benefits, which are derived by companies. Central Co-Operative Bank:-This banks are operate in district level and provide a financial services and control the primary co-operative societies of a district. The procedure involves in the registration of a cooperative society is very simple and easy.… Advantages of Co-operative Society 1. A cooperative society is different from other forms of business organization because other business organizations like partnership firm or private limited companies work with the sole objective of earning profits whereas in this form of business organization member’s voluntary join the society so to work for the benefit of the members of the society while doing business. Cooperatives are private organizations that are controlled and owned by the individuals who use the supplies, services, or products they produce. 3. Advantages And Disadvantages Of Cooperatives 702 Words 3 Pages The world has become more and more exclusive as the disparity between the haves and have-nots in our society widened. Disadvantages of cooperative society: Advantages of Cooperative Society. … Social benefit: It helps in social welfare as it caters to the needs of the poor and middle sections of the society. 4. Following are some of the advantages of cooperative societies: 1. Merits of Cooperative Society. Co-operative societies enjoy the benefit of certain preferences being shown towards them by tax authorities. The cooperative society helps its members in providing employment to the people and supply of goods at a lower price than the market. 2. Extensive record keeping is necessary in this form of organization. It requires members to participate for success. Ans: Given below are the types of cooperative societies: Consumer Cooperative Society: Its purpose is to purchase goods directly from the manufacturer and deliver it to the consumers at a reasonable price. Disadvantages Advantages and Disadvantages of Cooperative Societies. 5. 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