Section 76(2) in Mizoram Cooperative Societies Act, 2006
(2)The balance surplus accruing from members and the entire surplus accruing from transactions held or entered with others, shall be utilized in the following manner:(a)not less than twenty five percent shall be transferred to a statutory reserve fund;(b)not less than twenty percent shall be transferred to a separate reserve for meeting unforeseen losses;(c)where the co-operative is a member of the hate union, not exceeding three percent may be transferred in the manne 11 prescribed to a ' co-operative education fund maintained by the co-operative union;(d)bonus shall be paid to employees in accordance with the decision of the general body;(e)not less than twenty percent shall be transferred to an equity redemption fund by such co-operatives as already have government equity participation;(f)not less than five percent may be transferred towards a common good fund whose purpose is approved by the general body:(g)not more than five percent may be paid as contribution for any purpose connected with the development of the co-operative movement;(h)the balance shall be transferred to such other funds and reserves as created by the general body;(i)surplus accruing as a result of servicing person other than members shall not be divisible amongst members and may be utilized in the case of other than credit co-operatives towards equity participation of potential members and towards credit equalisation fund in the case of credit co-operatives as specified under section 124.
