State Agricultural Credit Corporation Act : Stabilization Fund. Indian Bare Acts :

State Agricultural Credit Corporation Act,1968

Act No : 60

Section : Stabilization Fund.

24. Stabilization Fund. (1) 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. (2) 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.