Section 67 in The Maharashtra Co-Operative Societies Act, 1960
67. [ Restrictions on dividend. [Section 67 was substituted by Maharashtra 20 of 1986, Section 23.]
- No society shall pay divided to its members at a rate exceeding [15 per cent except with the prior sanction of the Registrar:][Provided that, the primary agricultural credit co-operative society shall pay dividend to its members as per the guidelines issued by the Registrar, in accordance with criteria specified by the National Bank.] [This proviso was added by Maharashtra Act 11 of 2008, Section 12, (w.e.f. 29.10.2007).]
