Section 62A in The Karnataka Souharda Sahakari Act, 1997
62A. [ Cooperative Education and Training. [Inserted by Act 4 of 2013 w.e.f. 11.02.2013.]
(1)The cooperative education fund constituted under clause (xxi) of sub-section (2) of Section 10 shall be utilized for the purpose of promotion of the cooperative movement in the State and for providing education to the members, directors and cooperators of the cooperatives and the general public and training to the employees of the cooperatives;(2)Every co-operative shall pay its Education fund contribution to the account of the Karnataka State Souharda Federal cooperative;(3)All contributions made by the cooperatives towards co-operative education fund and donations received, if any, from any person or institution shall be credited to the cooperative education fund.(4)Every cooperative shall pay the education fund contribution, within thirty days from the date of the annual general meeting to the Federal cooperative.(5)The cooperative education fund shall be maintained and administered by the Karnataka State Souhardha Federation Cooperative Limited in such manner as may be prescribed.(6)No expenditure out of the cooperative education fund shall be incurred without the approval of an advisory committee constituted for the purpose as prescribed]
