Section 24 in The Multi-State Co-Operative Societies Rules, 2002
24. Distribution of profit to members.
(1)No part of the funds, other than net profits, of a multi-State co-operative society shall be distributed by way of bonus or dividend or otherwise among its members.(2)Payment of dividend to the members on their paid-up share capital shall be as specified in the bye-laws.(3)The bye-laws of a multi-State co-operative society may provide for distribution of patronage bonus to its members in consonance with the transactions of a member with the society.(4)Every multi-State co-operative society may also provide for in their bye-laws the subjects and purposes for which the reserve fund will be utilized.
