This Law, divided into twelve parts, concerns measures for management and administration of co-operative societies. The Law defines the following relevant terms: dividend; bonus; by-laws; co-operative societies committee; primary society; registered society; secondary financing society. The Law concerns: registration of cooperative societies; conditions of registration; application for registration; duties and privileges of registered societies, including conditions on which loans may be made to members and rate of interests; contracts with members; power to exempt from certain duties and fees; rights and liabilities of members; property and funds of registered societies; investment of funds; inquiry and inspection measures; audit; dissolution and liquidation; settlement of disputes.
Nigeria · 1956-11-01