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Section 56

The Lakshadweep Co-Operative Societies Regulation, 2022Regulations · 2022

(1) No part of the funds or assets of a society, other than the dividend equalisation fund, if any, and the net profits thereof, shall be paid by way of rebate or dividend or otherwise distributed, to its members:

Provided that in the case of a member, who is also a salaried employee of the society payment on such scale as may be laid down by the bye-laws may be made to him for work done as such employee.

(2) No honorarium shall be paid out of the funds and assets of a society other than the net profits and such honorarium shall not exceed the prescribed limit.

Where this provision sits

ActThe Lakshadweep Co-Operative Societies Regulation, 2022
Section56
StatusIn force as published by the source

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