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Section 55: Funds not to be divided

The Odisha Co-Operative Societies Act, 1962State Act of Odisha · Act 2 of 1963

(1) No part of the funds other than the net profits of a Society shall be paid by way of bonus or dividend or otherwise distributed among its members:

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.

(2) Nothing in Sub-Section (1) shall be construed so as to debar any payment from being made out of such fund to a member as wages or as price of the produced of such member supplied to the Society.

Where this provision sits

ActThe Odisha Co-Operative Societies Act, 1962
Section55
Marginal noteFunds not to be divided
JurisdictionState of Odisha
StatusIn force as published by the source

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