Section 148 in The U.P. Co-operative Societies Rules, 1968
148.
A co-operative society with limited liability may start paying dividend on the first co-operative year's working. No dividend shall be payable on the amount paid up on any share which has not been held for at least six months at the close of the co-operative year for which profits are being distributed On shares held for a period of less than a year and more than six months, dividend shall be payable only for six months.
