· Functional cooperatives are registered with the relevant registration authority, engage in business activities, and regularly provide statutory audits and annual reports.
· A non-functional cooperative society refers to one that is no longer active or operational, often due to reasons such as financial difficulties, management issues, lack of member participation, or failure to achieve its objectives.
· An under liquidation cooperative society is in the process of being formally dissolved, with its assets being distributed. Liquidation typically occurs when a cooperative is financially insolvent, unable to meet its objectives, or for other reasons that render it non-functional.