Section 67 in Assam Co-Operative Societies Act, 2007
67. Operation of special funds.
(1)A cooperative society may create reserves and such other funds as in the interest of members or the cooperative society and which are specified in the bye-laws:Provided that where a contributory provident fund is created for the benefit of employees such fund -(a)shall not be used in the business of the cooperative Society;(b)shall not form part of the assets of the cooperative society;(c)shall not be liable to attachment or be subject to any other process of any court or other authority; and(d)shall be administered in such manner as may be provided in the bye-laws.(2)In any financial year if the fund 15 not applied in part or whole for the purpose for which it was created, the cooperative society shall credit to the account of such fund an annual interest on the amount of balance of such fund at a rate not less than the rate paid by scheduled banks on long term fixed deposits, debiting such interest as operational expenditure.
