Section 70 of MCS ACT 1960 : Investment of funds
70.Investment of funds A society shall invest or deposit its funds in one or more of the following :— (a) in a District Central Co-operativ...
Tuesday, 11 October 2022
Section 69B of MCS ACT 1960 : Constitution of District Level and State Level Committees
69B.Constitution of District Level and State Level Committees The State Government shall constitute District Level Committees and the State ...
Section 69 of MCS ACT 1960 : Contribution to public purposes
69. Contribution to public purposes After providing for the reserve fund as provided in section 66, and for the 3[funds towards co-operati...
Section 68 of MCS ACT 1960 : Contribution to education fund of the State federal society
68.Contribution to education fund of the State federal society (1) Every society not being co-operative credit structure entity shall contr...
Section 67 of MCS ACT 1960 : Restrictions on dividend
67.Restrictions on dividend No society shall pay dividend to its members at a rate exceeding per cent. except with the prior sanction of the...
Section 66 of MCS ACT 1960 : Reserve Fund
66.Reserve Fund (1) Every society which does, or can, derive a profit from its transactions, shall maintain a reserve fund. (2) Every societ...
Section 65 of MCS ACT 1960 : Ascertainment and appropriation of profits
65.Ascertainment and appropriation of profits (1)A society shall construct its relevant annual financial statements and arrive at its conse...
Section 64 of MCS ACT 1960 : Funds not to be divided
64.Funds not to be divided No part of the funds, other than 2[the dividend equalisation or bonus equalisation funds as may be prescribed or...
Friday, 7 October 2022
Section 63 of MCS ACT 1960 : Provisions of this Chapter to override other laws
63.Provisions of this Chapter to override other laws The provisions of sections 51 to 61 (both inclusive) in this Chapter shall have effect...
Section 62 of MCS ACT 1960 : Other forms of State aid to societies
62.Other forms of State aid to societies Notwithstanding anything contained in any law for the time being in force, but subject to such cond...
