1. Membership of a co-operative society should be voluntary and available without artificial restriction or any social, political, religious or racial discrimination to all persons who can make use of its services and are willing to accept the responsibilities of membership.
2. Co-operative societies are democratic organizations. Their affairs should be administered by persons elected or appointed in a manner agreed by the members and accountable to them. Members of primary societies should enjoy equal rights of voting (one member, one vote) and participation in decisions affecting their societies. In other than primary societies the administration should be conducted on a democratic basis in a suitable form.
Read Also
University of Saskatchewan experts helping ‘herders’ in Mongolia
The Canadian government and the University of Saskatchewan are part of a $10 million project trying to help Mongolian farmers modernize their practices.
3. Share capital should only receive a strictly limited rate of interest, if any.
4. Surplus or savings, if any, arising out of the operation of a society belongs to the members of that society and should be distributed in such manner as would avoid one member gaining at the expense of others. This may be done by decision of the members as follows:
(a) by provision for development of the business of the co-operative;
(b) by provision of common services; or
(c) by distribution among the members in proportion to their transactions within the society.
5. All co-operative societies should make provision for the education of their members, officers, and employees, and the general public, in the principles and techniques of co-operation, both economic and democratic.
6. All co-operative organizations, in order to best serve the interests of their members and their communities, should actively co-operate in every practical way with other co-operatives at local, national, and international levels.
