Amendment status not verified — confirm the current text below against the official source.
Payment of Dividend or Bonus: - (1) in no co-operative society the dividend shall exceed ten percent per annum on paid up share capital. (2) In a co-operative society with an unlimited liability, on dividend or bonus shall be paid, until a period of five years has elapsed from the date of registration. (3) No dividend shall be paid by the co-operative society while any claim due from the co-operative society to a depositor or lender remains unsatisfied. (4) The Registrar may by general or special order direct that a co-operative society shall not pay dividend or shall pay dividend at reduced rate so long as it receives loans and deposits from non members.