Amendment status not verified — confirm the current text below against the official source.
Other forms of State aid to Co-operative Societies:- Notwithstanding anything contained in any law for the time being in force, the Government may- (a) subscribe to the share capital of a co-operative society; (b) give loans or make advances to co-operative society; (c) guarantee the repayment of principal and payment of interest on debentures issued by a co-operative society; (d) guarantee the repayment of the share capital of a co-operative society and dividends thereon at such rates as may be specified by the Government; (e) guarantee the repayment of principal and payment of interest on loans and advances to a co-operative society; and (f) give financial assistance in any other form, including subsidies, to any co-operative society. CHAPTER VI PROPERTIES AND FUNDS OF Co-oPERATIVE SOCIETIES SECTION - 41 41, Funds not to be divided by way of profit :- No part of the funds of co-operative society shall be divided by way of bonus or dividend or other-wise among its members; Provided that after at least one-tenth of the net profits in any year have been carried to the reserve fund, payments from the remainder of such profits and from any profits of past years available for distribution may be made among the members to such extent and under such conditions as may be prescribed by the rules or bye-laws. SECTION - 42