65. Ascertainment and appropriation of profits.- (1) A society shall construct its relevant annual financial statements 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 bye-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 bye-laws.
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