section 55
Funds not to be divided.
The Kerala Co-operative Societies Act 1969Corporate1969136 sections12 chapters
Chapter VII Chapter VII
Statutory text
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 such remuneration, allowances or honoraria and on such scale as may be laid down by the bye-laws for any services rendered by him to the society.
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