Section 30 in Multi-State Co-Operative Societies (Registration, Membership, Direction & Management, Settlement of Disputes, Appeal & Revision) Rules, 1985
30. Restrictions and Conditions For Payment of Honorarium To The Chairman and The President.
- A Multi-State Co-operative Society may provide in its bye-laws for the payment of honorarium to the elected Chairman or President of the Board of Directors, out of profits, in respect of specific services rendered by him, on such scale as may be laid-down in the bye laws of such a society, but in no case exceeding the limit and terms and conditions hereunder referred to :(a)that the society's financial position is sound ;(b)that for its recurring expenses it does not depend on grants or subsidies from the Central Government or the State Government ; and(c)that the honorarium to be paid, whether as a consolidated amount or in the shape of daily allowance in respect of the days of halt at the head quarters, in addition to the sitting fees in respect of board meetings as and when such meetings are held, is limited to rupees twenty five thousands per year.
