State Act

57

Section 57. Fund not to be divided.

THE JAMMU AND KASHMIR CO-OPERATIVE SOCIETIES ACT, 1989

In forceJammu and Kashmir (State Act)

57. Fund not to be divided. No part of the funds other than the net profits of a co-operative society shall be paid by way of bonus or dividend or otherwise distributed among its members : Provided that a member may be paid remuneration on such scale as may be prescribed for any service rendered by him to the co-operative society as Secretary or as Clerk.