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Section 43: Operation of special funds.

The Jammu and Kashmir Self-Reliant Cooperatives Act, 1999Union territory Act of Jammu and Kashmir · Act 10 of 1999

(1) A cooperative may, in the interest of its members and towards the fulfillment of its objectives, create reserves and such other funds as are specified in the articles of association.

(2) Funds so created may be used in the business of the cooperative, but at the end of every year, on that portion of each fund which was not applied for the purpose for which it was created, the cooperative shall credit to the account of such fund an annual interest at not less than the rate paid by scheduled banks on long term fixed deposits debiting such interest as operational expenditure.

Where this provision sits

ActThe Jammu and Kashmir Self-Reliant Cooperatives Act, 1999
Section43
Marginal noteOperation of special funds.
JurisdictionUnion territory of Jammu and Kashmir
StatusIn force as published by the source

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