Section 41 in The Punjab Co-operative Societies Act, 1961
41. Funds not to be divided by way of profit.
- No part of the funds of a co- operative society shall be divided by way of bonus or dividend or otherwise among its members :Provided that after at least one-tenth of the net profits in any year have been carried to the reserve fund, payments from the remainder of such profits and from any profits of past years available for distribution may be made among the members to such extent and under such conditions as may be prescribed by the rules or bye-laws.
