Section 74 in Haryana Co-operative Societies Rules, 1989
74. Reserve fund.
- Section 131(2)(xxiii). - (1) The Registrar may, from time to time by a general or special order, raise the proportion of profits to be carried to reserve fund under section 87 from one-tenth of the net profits to a limit not exceeding one-fourth of the net profits.(2)The reserve fund shall be indivisible and no member shall be entitled to claim a specified share in it:Provided that in exceptional circumstances and with the prior approval of the Registrar, the reserve fund may be utilised in meeting losses to the society.(3)No co-operative society where reserve fund has been separately invested or deposited shall draw upon, pledge or otherwise employ such fund.
