Section 72(1) in The Tamil Nadu Co-Operative Societies Act, 1983
(1)(a)A registered society shall, out of its net profits as declared by the Registrar for the purposes of this Act in respect of any cooperative year, contribute,-(i)three per cent of the net profits to the co-operative research and development fund; and(ii)two per cent of the net profits to the co-operative education fund, within such time and in such manner as may be prescribed.(b)The co-operative research and development fund and the co-operative education fund shall be maintained by the Tamil Nadu Co-operative Union Limited and administered by committees constituted in accordance with the rules. Such committees shall consist of nominees of the Government (who shall be specialists or technical experts in agriculture or animal husbandry or sugar technology or textile technology or in such other matters as may be prescribed or officers of the Government) and also of nominees of the prescribed apex societies.
