Distribution of profit

(1) The provisions of section 58, in so far as they are not inconsistent with sub-section (2) and (3) shall also apply to the utilization of the net profits of a co-operative farming society. (2) A co-operative farming society shall carry at least one-twentieth of its net profits to a fund called the reserve fund. (3) A co-operative farming society may out of its net profits pay to such extent and in such manner as may be prescribed, bonus to its members in respect of their land and labour contributions made to the society.