Section 32(1)(c) in Jammu and Kashmir Co-operative Societies Rules, 2001
(c)the dividend upon paid up share capital at the rates not exceeding six percent for any period or periods for which dividend has not been paid or such dividend to the maximum rates for any period for which dividend at a rate lower than the maximum specified has been paid. No dividend shall, however, be paid on share capital if the bye-laws of the society do not provide for payment of dividend.