State Agricultural Credit Corporations Act, 1968
24. Stabilization Fund.
- To the
Stabilization Fund shall be credited such sum, not being less than ten and not
more than fifteen per cent. as the Corporation may deem fit from out of its net
annual profits before declaring a dividend.
- Subject to such
conditions as may be specified by the Board by regulations, the amount lying to
the credit of the Stabilization Fund shall be utilised solely for the purpose
of making loans or advances with a view to enabling any co-operative society or
other person to pay its or his dues in cases where, in the opinion of the Corporation,
such society or other person is unable to pay such dues in time owing to
drought, famine or other natural calamities.
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