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        Trust and Society

        Section 33 - Funds not to be divided by way of profit

        Co-operative Societies Act, 1912
        Chapter VI
        Property and funds of registered societies

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        Prohibition on society fund distribution; payments allowed only after prescribed reserve and under rules, with extra restriction for unlimited liability. Prohibition on division of a registered society's funds among members by way of bonus, dividend or otherwise. Payments to members from remaining current or past distributable profits are permitted only after a prescribed portion of net profits has been carried to a reserve fund and then subject to the society's rules or by laws; societies with unlimited liability require the State Government's general or special order before any such distribution.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Prohibition on society fund distribution; payments allowed only after prescribed reserve and under rules, with extra restriction for unlimited liability.

                                Prohibition on division of a registered society's funds among members by way of bonus, dividend or otherwise. Payments to members from remaining current or past distributable profits are permitted only after a prescribed portion of net profits has been carried to a reserve fund and then subject to the society's rules or by laws; societies with unlimited liability require the State Government's general or special order before any such distribution.


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