Section 45(4) in Andhra Pradesh Co-Operative Societies Act, 1964
(4)[] [Renumbered by Act No. 22 of 2001, dated 25.4.2001.] The balance of the net profits may be utilised for all or any of the following purposes, namely:-(a)[x x x] [Omitted by Act No. 21 of 1985.] ;(b)[x x x] [Omitted by Act No. 21 of 1985.] ;(c)constitution of or contribution to, such special funds as may be specified in the bye-laws ;(d)payment of bonus to employees of the society or remuneration to a member for services rendered by him to the society to the extent and the manner specified in the bye-laws ;(e)donation of moneys, not exceeding ten per cent of the net profits to be utilised within the area of operation of the society for any charitable purpose as defined in Section 2 of the Charitable Endowments Act, 1890: Provided that such moneys may be utilised with the permission of the Government for any such purpose outside the area of operation of the society.
