Section 64 in The Maharashtra Co-Operative Societies Act, 1960
64. Funds not to be divided.
- No part of the funds, other than [the dividend equilisation or bonus equalisation funds as may be prescribed or] [These words were inserted by Maharashtra 33 of 1963, Section 12.] 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 bye-laws, for any services rendered by him to the society.
