Section 62(a) in The Assam Co-operative Societies Rules, 1953
(a)A co-operative society may set apart a certain per cent of its net profits as provided in the bye-laws for the payment of patronage dividend or rebate to its members in proportion to the money value of the business transacted by them during the year with the society as buyers, sellers wage earning producers, or otherwise, if such payment is recommended by the managing body and approved by the general assembly.
