Cooperative society (SA)
Last updated: 28 July 2017 .
A cooperative society is a company where the main object is to promote the economic interests of the members, by having them participate in the activity of the company either as consumers, suppliers or in any other way.
The earnings of a cooperative society are reserved for the company, or are divided between the members based on their trade with the company. None of the members are personally liable for the obligations of the company.