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State of Karnataka - Section

Section 44 in Karnataka Co-Operative Societies Act, 1959

44. Subsidiary State Partnership Fund.

(1)A central society which is provided with moneys by an apex society from the 'Principal State Partnership Fund' shall, with such moneys, establish a Fund to be called the 'Subsidiary State Partnership Fund'.
(2)A central society shall utilise the 'Subsidiary State Partnership Fund' for the purpose of,-
(a)purchasing shares in primary societies;
(b)making payments to the apex society in accordance with the provisions of this Chapter;
and for no other purpose.