Section 81 in Mizoram Cooperative Societies Act, 2006
81. Contribution to co-operative Education fund of the State Federal co-operative Union.
(1)Every co-operative shall contribute annually towards the co-operative Education Fund maintained by the state or federal co-operative union by whatever description be called by virtue of power conferred upon the co-operative under section 76(2)(c) as per the rate prescribed by the Registrar and different rates may be prescribed for different type and classes of co-operatives depending upon their financial conditions, strengths, status or position.(2)The rate, so levied in any case shall not be less than one percent and not more than three percent of the total net profit earned by the co-operative as provided under section 76(2)(c).(3)In the event of any co-operative intending to pay more than three percent, may do so, but only with the prior approval of Registrar.(4)Every co-operative shall pay its contribution to the above said education fund within ninety days after the closure of the financial year.(5)Where any co-operative which fails to pay the contribution to education fund as specified in sub-section (4) the amount of such contribution due shall be recoverable as arrears of land revenue.(6)The federal co-operative or co-operative union as the case may be in such cases may submit a report containing the details and particulars of defaulting co-operatives to the Registrar and the Registrar in turn after making an enquiry in this regard shall grant a certificate for recovery of the said amount due as arrears of land revenue.
