65. ASCERTAINMENT AND APPROPRIATION OF PROFITS
(1) A society shall construct its relevant annual financial statements and merit and arrive at its consequent net profit or loss in the manner prescribed.]
(2) A society may appropriate [its net profits] to the reserve fund or any other fund,, to payment of dividends to members on their shares, to the payment of bonus on the basis of support received from members and persons who are not members to its business, to payment of honoraria, and towards any other purpose which may be specified in the rules or by-laws :
Provided that, no part of the profits shall be appropriated except with the approval of the annual general meeting and in conformity with the Act. rules and by-laws.