State Act
44
Section 44. Funds other than net profits not to be divided among members.
The Telangana Co-operative Societies Act, 1964.
Act no. 7 of 19641964In forceTelangana (State Act)
44. 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 remuneration from the funds on such scale as may be prescribed for any service rendered by him to the society: 183[Provided further that a President of the Society be paid honorarium from the funds of the Society such rate as may be prescribed.]