Section 56(2) in The Orissa Co-operative Societies Act, 1962
(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 [twelve] [Substituted by O.A. No. 28 of 1991, Section 29 dated 31.12.1991, force w.e.f. 7.1.1993.] per cent of such share capital;[Provided that the Primary Agricultural Credit Co-operative Society, Large-sized Adivasi Multipurpose Co-operative Society, Service Co-operative Society and Farmers' Service Co-operative Society shall pay such dividend to its members in accordance with the guidelines laid down by the Registrar in consulation with the National Bank] [Inserted by Orissa Act 1 of 2008 Section 17 (a) & (b) (O.G.E. No. 654 dated 20.3.2008).](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 contributions to such special fund as may be specified in the Bye-Laws;(d)[ * * *] [Omitted by Orissa Act 1 of 2008 Section 17 (b)(ii) (O.G.E. No. 654 dated 20.3.2008).](e)payment of bonus to employees of the Society, to the extent and in the manner specified in the Bye-Laws;(f)payment of bonus to Government servants who are sent on deputation to the Society or are engaged whole-time in connection with the affairs of the Society; and(g)payment of honorarium to members of the Committee for rendering specific services provided that the aggregate of such honorarium paid during any year does not exceed an amount equal to ten per centum of the net profits of that year.
