State Act
55
Section 55. Funds not to be divided.
Kerala Co-operative Societies Act 1969
Act no. 21 of 19691969In forceKerala (State Act)
55.Funds not to be divided.-No part of the funds other than the net profits of a society shall be paid by way of bonus or dividend or otherwise distributed among its members: Provided that a member may be paid such remuneration, allowances or honoraria and on such scale as may be laid down by the bye-laws for any services rendered by him to the society.