57. Creation of reserve fund in a society.

{
    "act_title": "The Assam Co-operative Societies Rules, 1953",
    "act_slug": "the-assam-co-operative-societies-rules-1953-1953",
    "section_label": "Section",
    "section": {
        "number": "57",
        "title": "57. Creation of reserve fund in a society.",
        "chapter": null,
        "content": "(ii) In every co-operative society with shares and with unlimited liability not less than one-half of the net profits in any year shall be carried to the reserve fund until that fund is equal to one-half of the total borrowed capital; thereafter not less than one-third of the net profits in any year until the reserve fund equals the amount of borrowed capital; and thereafter not less than one-fourth of the net profits in any year shall be carried to the reserve Fund :",
        "footnote": "",
        "is_definition": false,
        "sort_order": 59
    },
    "prev_section": "56",
    "next_section": "58"
}