State Act
18
Section 18. Use of funds.
The Punjab Self-Supporting Co-operative Societies Act, 2006
Act no. 17 of 20102010In forcePunjab (State Act)
18. (1) The funds mobilized by a self-supporting co-operative society, shall primarily be used for the furtherance of its objectives. (2) No part of the funds of a self-supporting co-operative society other than the net profits, shall be paid by way of bonus or dividend or otherwise distributed among its members. (3) A self-supporting co-operative society may of its net profits in any year, pay on the paid up share capital of members, a dividend at the rate fixed by its general body in the annual general meeting.