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[Cites 0, Cited by 0] [Section 49] [Entire Act]

State of Madhya Pradesh - Subsection

Section 49(2) in The M.P. Swayatta Sahakarita Adhiniyam, 1999

(2)The funds so created may be used in the business of the cooperative. but in any financial year if the fund is not applied in part or whole for the purpose for which it was created, the co-operative shall credit to the account of such fund an annual interest on the amount of balance of such fund at a rate not less than the rate paid by Scheduled banks on long-term fixed deposits, debiting such interest as operational expenditure.