State Act
41
Section 41. Direct partnership of State Government in co-operative societies.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
41. Direct partnership of State Government in co-operative societies.- (1) The State Government may subscribe directly to the share capital of a co-operative society with limited liability. (2) Notwithstanding any agreement to the contrary, the State Government shall not be entitled to a dividend on the shares of any such co-operative society at a rate higher than that at which such dividend is payable to any other shareholder of the society.