law: Co-Operative Societies Act, 1912
  33. Funds not to be divided by way of profit
  No part of the funds of a registered society
  
  shall be divided by way of bonus or dividend or otherwise among its members :
  Provided that after at least one-fourth of the net
  
  profits in any year have been carried to a reserve fund, payments from the
  
  remainder of such profits and from any profits of past years available for
  
  distribution may be made among the members to such extent and under such
  
  conditions as may be prescribed by the rules or by-laws 
  Provided also that in the case of a society with
  
  unlimited liability no distribution of. profits shall be made without the
  
  general or special order of the 4[State Government] in this behalf.