JAMB - Economics (2013 - No. 35)
A distinguishing characteristic of consumer co-operative society is that the
the maximum number of shareholders is 20
members are the owners
members are the workers
the minimum number of shareholders is 5
Explanation
Some Characteristics of consumers' co-operative society:
(1) A consumers' co-operative society is a voluntary association of persons and is registered under the Co-operative Societies Act owned and run by members.
(2) The membership of these stores is open to all the adults.
(3) There is a democratic control and management of the affairs of these societies.
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