Cooperative law

Cooperative law in Nepal governs the formation, functioning, and regulation of cooperative societies, which are voluntary associations of individuals or groups who come together to meet common economic, social, and cultural needs through mutual cooperation and self-help. The Cooperative Act of Nepal is the primary legislative framework that outlines the rules and procedures for establishing and operating cooperative societies. The law defines the rights and responsibilities of members, the management structure, financial obligations, and the dissolution process of cooperatives. It also aims to promote democratic decision-making, equitable distribution of benefits, and sustainable development through cooperative enterprises. The cooperative movement plays a crucial role in empowering rural communities, supporting agriculture, and fostering inclusive economic growth in Nepal. By promoting collective efforts and community-driven initiatives, cooperative law contributes to the social and economic development of the country.