section 61
Contribution to education fund
The Dadra and Nagar Haveli and Daman and Diu Co-Operative Societies Regulation, 2024Corporate2024155 sections12 chapters
Chapter VI PROPERTY AND FUNDS OF SOCIETIES
Statutory text
- (1) Every society which declares, out of the current year’s profit, dividend to its members, shall contribute towards the education fund at such rate as may be prescribed.
- (2) No society, liable to contribute towards the education fund, shall pay dividend to its members, unless the said contribution is made to the Registrar within a period of sixty days from the date on which its accounts are adopted by the general body of members at its annual general meeting.
- (3) An officer who wilfully fails to comply with the provisions of this section, shall be personally liable for making good the amount to the Registrar.
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