Section 66(2) in The Manipur Co-operative Societies Act, 1976
(2)In the case of a resource or producers' society at least one-fifth of the net profit to the society each year, and in the case of any other society at least one-tenth of the net profits of the society each year, shall be carried to the reserved fund; and such reserve fund shall not be used in the business of the society or may, subject to the provisions of Section 70, be invested, as the State Government may by general or special order direct, or may, with the previous sanction of the Registrar, be used in part for some public purpose likely to promote the objects of this Act, or some such purpose of the State, or of local interest.
