Section 2(11) in The Maharashtra Co-Operative Societies Act, 1960
(11)"dividend" means the amount paid, out of the profits of a society, to a member in proportion to the shares held by him;[(11-A) "expert director" means a person having experience in the field of banking, management, co-operation and finance and includes a person having specialisation in any other field relating to the objects and activities undertaken by the concerned society;] [Clause (11-A) was Inserted by Maharashtra Act No. 16 of 2013 dated 13-8-2013, Section 2(d), (w.e.f. 14-2-2013).]
