(1) If an Apex society Which has established a Principal State Partnership Fund is wound up or dissolved, all moneys to the credit of, or payable to that Fund, shall be paid to the State Government.
(2) If a Central society Which has established a Subsidiary State Partnership Fund is wound up or is dissolved, all moneys to the Credit of or payable to that Fund shall be paid and credited to the Principal State Partnership Fund, from Which it received moneysunder clause
(b) of sub-section (2) of Section 52.
60, Any amount to the credit of a Principal State Partnership Fund or a Subsidiary State Partnership Fund Shall not form part of the assets of the Apex society or the Central society as the case may be.
61. Subject to the foregoing provisions of this Chapter—
(a) the State Government may enter into an agreement With an Apex society setting out the terms and conditions on which it shall provide moneys to the Apex society for the purpose specified in Section 51.
(b) an Apex society may, with the previous approval of the State Government, enter into an agreement with a Central society setting out the terms and conditions on Which it shall provide moneys to that Society from the Principal State Partnership Fund for the purp08e specified in clause (b) of sub-section (2) of section 52.
62. Notwithstanding anything contained in any law for the timebeing in force, but subject to such conditions as the State Govern-ment by general or special order may specify in this behalf, the State Government may—
(a) give loans to a society ;
(b) guarantee the payment of the principal of debentures issued by a. society, or of interest thereon, or both, or the repayment of the share capital of the society to its member ;
or the payment of dividend thereon at such rate as may be Specified by the State ;
(c) guarantee the repayment of loans given by a. Co—operative Bank to a society ;
(d) guarantee the repayment of the principal, and payment of interest on, loans and advances given by the Reserve Bank of India, or the Industrial Finance Corporation of india, or any other authority constituted under any law for the time being in force ; or
(e) provide financial assistance, in any other form (including subsidies), to a society.
63. The provisions of sections 51 to 61 (both inclusive) in thisChapter shall have efl‘ect notwithstanding anything inconsistent therewithcontain in any other law for the time being in force.
CHAPTER VI PROPERTY AND FUNDS OF SOCIETIES
64. No part of the funds, other than the net profits of a societyshall be paid by way of bonus or dividend, or otherwise distributedamong its members ;
23 Principal or subsidiary State Partnership Fund not to form part etc.
Agreement by State Govt, and Apex Societies.
Other forms of State aid to societies.
Provisions of this Chapter to override other laws.
Funds not to be divided.
24 Appropriation of profits.
Reserve Fund.
Butrictions on dividend.
Contribution to sduca.‘ tional fund of the State Co-operative _ Union,
Provided that, a member may be paid remuneration on such Scale as may be laid down by the bye-laws, for. any services rendered by him to the society.