State Act
64
Section 64. Funds not to be divided.
The Maharashtra Co-operative Societies Act, 1960
Act no. XXIV of 19611961In forceMaharashtra (State Act)
64. Funds not to be divided.— No part of the funds, other than 2[the dividend equalisation or bonus equalisation funds as may be prescribed or] 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 remuneration on such scale as may be laid down by the by-laws, for any services rendered by him to the society.