Section 58(2) in Uttarakhand Co-Operative Societies Act, 2003
(2)Subject to such conditions as may be prescribed, the balance of the net profits may be utilized for all or any of the following purposes, namely-(a)Payment of dividend to members on their paid-up share capital at a rate not exceeding twenty percent;(b)Payment of bonus to members on the amount or volume of business done by them with the society, to the extent and in the manner specified in the rules or the bye-laws;(c)Constitution of, or contribution to, building fund, rural improvement fund or any other fund as may be specified in the rules or the bye-laws;(d)Donation of amounts not exceeding 5 percent for any charitable purpose as defined in section 2 of Charitable Endowments Act,1980 (Act VI of 1980) :Provided that no amount shall be donated to any organization established for any charitable purpose, which has an object, whether directly or indirectly, to further the interest of any political party or a religious faith.
