Section 45(3) in Andhra Pradesh Co-Operative Societies Act, 1964
(3)[] [Renumbered by Act No. 22 of 2001, dated 25.4.2001.] A society shall, out of its net profits in any co-operative year,-(a)transfer an amount not being less than twenty-five per cent of the profits as may be prescribed, to the reserve fund :Provided that when the total amount so transferred becomes equal to the amount of paid-up share capital, the amount to be transferred may, with the previous permission of the Registrar, be reduced to a sum not less than ten per cent of such profits;(b)[x x x] [Omitted by Act No. 22 of 2001, dated 25.4.2001.](c)[ credit such portion of the profits, as may be prescribed, to the bad debts reserve] [Inserted by Act No. 10 of 1970.] ;(d)[ pay towards dividend to members on their paid-up share capital, an amount not being less than fifteen per cent of the net profit; [Added by Andhra Pradesh Act No. 21 of 1985, w.e.f. 22-4-1985.](e)pay an amount not being less than fifteen per cent of the net profit towards rebate to members on the amount or volume of business done by them with the Society in the manner specified in the bye-laws].
