Amendment status not verified — confirm the current text below against the official source.
(1) The funds mobilized by a cooperative society shall be deployed primarily for the furtherance of its objectives. (2) No part of the funds of a cooperative society other than the net profits shall be paid by way of bonus or dividend or otherwise distributed among its members. (3) A cooperative society may out of its net profits in any year, pay on the paid up share capital of members a dividend at a rate fixed by the general body in the annual general meeting. (4) Such of its funds as are not needed for use in its business, a cooperative society may invest or deposit, outside its business in any non speculative manner.