A multistate CGHS is a type of housing society that is registered under the Multi State Co-Operative Societies Act.
There are many types of Multistate CGHS, including agriculture, housing, fisheries, sugar, labour, credit, transport and handloom. To form a multistate society, it is necessary to arrange for at least fifty members from two states, who have proper address proofs and verifiable identities.
Multistate CGHS has a lot of benefits. Multi State Cooperative Societies are probably the very best way of successfully executing public collection and also making a profit without and interference from SEBI, SBA or RBI. The profits made by the Multi State Cooperative Societies is split between a number of sectors. Twenty five percent of it goes to the reserve funds, one percent goes to the national cooperative board for education and another ten percent to the reserve fund, to be set aside to overcome unforeseen monetary losses. It is compulsory to conduct four general body meetings in a year, to ensure proper functioning of the complex.
It requires you to register specially to be a part of Multistate CGHS. The registration process takes about 4 months, starting from the filling up of forms to the authorization by the central registrar. If by chance a registration application gets cancelled, there are no laws against a resubmission, although it might cost you a lot of time.
The main purpose of these societies is to promote the interests of multiple states through self-improvement, and thus further the social and economic progress of its citizens.