Section 44 in Andhra Pradesh Co-Operative Societies Act, 1964
44. Funds other than net profits not to be divided among members.
- No part of the funds other than the net profits of a society shall be paid by way of bonus or dividend or otherwise distributed among its membersProvided that a member may be paid remuneration from the funds on such scale as may be prescribed for any service rendered by him to the society[Provided further that a President of the Society may be paid honorarium from the funds of the Society at such rate as may be prescribed.] [Added by Andhra Pradesh Act No. 21 of 1985, w.e.f. 22-4-1985.]
