Section 53 in The Assam Co-operative Societies Act, 1949
53. Distribution of net profit.
- After making the allocation to the Reserve Fund as prescribed in Section 52, the remaining net profit of a registered society may be distributed according to the bye-laws of the society :Provided that a registered co-operative society of which the majority of members are agriculturists and one of the objects is the creation of fund to be lent to its members shall carry not less than 15 per cent of its net profits in any year to the Agricultural Credit Stabilisation Fund as may be prescribed.
