Section 58 in The Manipur Co-operative Societies Act, 1976
58. Disposal of shares, capital and dividend etc.
(1)All moneys received by an Apex Society in respect of shares or other societies purchased from the moneys in the Principal State Partnership Fund on redemption of such shares, or by way of dividends or otherwise shall be credited to that fund.(2)All moneys received by a Central Society in respect of shares of Primary Societies purchased from the moneys in the Subsidiary State Partnership Fund on redemption of such shares, or by way of dividends or otherwise shall in the first instance be credited to that fund and then transferred to the Apex Society which shall credit them to the Principal State Partnership Fund.(3)All moneys and dividends referred to in sub-sections (1) and (2) shall, notwithstanding that the shares stand in the name of the Apex Society or the Central Society, as the case may be, be paid to the State Government.(4)Save as provided in sub-section (3), the State Government shall not be entitled to any other return on the moneys provided by it to an Apex Society under Section 51.
