Section 64 in Assam Co-Operative Societies Act, 2007
64. Deployment of funds and profits.
(1)The funds mobilized by a cooperative society shall be deployed primarily for the furtherance of its objectives.(2)No part of the funds of a cooperative society other than the net profits shall be paid by way of bonus or dividend or otherwise distributed among its members.(3)A cooperative society may out of its net profits in any year, pay on the paid up share capital of members a dividend at a rate fixed by the general body in the annual general meeting.(4)Such of its funds as are not needed for use in its business, a cooperative society may invest or deposit, outside its business in any non speculative manner.
