Section 52 in The Assam Co-operative Societies Act, 1949
52. Reserve Fund.
(1)Every registered society shall maintain a Reserve Fund [***] and carry to find in each year not less than twenty-five per centime of its net profits.(2)The Reserve Fund shall be invested separately in any of the ways prescribed in Section 51 or, with the sanction of the Registrar, in immovable property required for the furtherance of the activities of the society. Any such investment shall be deemed to constitute Reserve Fund. No instrument securing a loan on a Reserve Fund shall be valid.(3)The Reserve Fund shall not be utilised for any purpose whatsoever except with the sanction of the Registrar, who shall accord such sanction only in exceptional circumstances.
