Section 167 in The U.P. Co-operative Societies Rules, 1968
167.
The reserve fund in a co-operative society may, with the sanction of the Registrar, be utilised for any one or more of the following purposes-(i)to meet unforeseen losses;(ii)to meet such claims of the creditors of the society as cannot be otherwise met; and(iii)to provide for other financial needs in time of special scarcity.
