Section 69 in The Maharashtra Co-Operative Societies Act, 1960
69. Contribution to public purposes.
- After providing for the reserve fund as provided in section 66, and [funds towards co-operative education and training as provided in section 24A] [These words, figures, letter were substituted for the words figures and letter 'the educational funds as provided in section 68' by Maharashtra Act No. 16 of 2013 dated 13-8-2013, Section 22, (w.e.f. 14-2-2013).] a society may set aside a sum not exceeding twenty per cent of its net profits, and utilise, with the approval of such federal society as may be notified by the State Government in this behalf from time to time, the whole or part of such sum in contributing to any co-operative purpose, or to any charitable purpose within the meaning of section 2 of the Charitable Endowments Act, 1890, or to any other public purpose.
