Section 63(1) in The Multi-State Co-Operative Societies Act, 2002
(1)A multi-State co-operative society shall, out of its net profits in any year,—(a)transfer an amount not less than twenty-five per cent. to the reserve fund;(b)credit one per cent. to co-operative education fund maintained by the National Co-operative Union of India Limited, New Delhi, in the manner as may be prescribed;(c)transfer an amount not less than ten per cent. to a reserve fund for meeting unforeseen losses.
