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[Cites 0, Cited by 0] [Section 62] [Entire Act]

State of Rajasthan - Subsection

Section 62(2) in Rajasthan Co-operative Societies Act, 1965

(2)The balance of the net profits may be utilised for all or any of the following purposes, namely:-
(a)payment of dividend to members on their paid up share capital at a rate not exceeding the prescribed limit;
(b)payment of bonus to members on the amount or volume of business done by them with the society, to the extent and in the manner specified in the bye-laws;
(c)constitution of, or contribution to, such special fund as may be specified in the bye-laws;
(d)donations of amounts not exceeding ten percentum of the net profits for any charitable purpose as defined in section 2 of the Charitable Endowments Act, 1890 (Central Act 6 of 1890); and
(e)payment of bonus to employees of the society, to the extent and in the manner specified in the bye-laws.