Dar Es Salaam, Tanz - SNHU Academic Archive - Southern New ...

62The approva l for the construction of the first building was reached on an AGM held on25 th August 2001 where it was decided that sources of funds shoul d strictly come fromthe retaine d surplus , which wa s declare d for dividends payment t o member s an d notfrom members savings reserved for loan servicing. Construction of the first building wascontributed onl y b y activ e member s wh o qualifie d fo r dividends . Allotment o f th ecompleted property to member's shares is in progress.Apart from allotments to members, so far there is no decision reached regarding to whatwill happe n t o a membe r who , voluntarily, decide t o qui t th e society . With curren tposition it is obvious that subsequent members will, without sacrificing anything, enjoythe return on investment of the said building when rented. The new Cooperative societyAct an d rules are silen t on investments of this nature, becaus e the decisions are madevoluntarily and there are no complains from members.The SACCO s als o had acquired a plot at Malib u are a where Tshs.68,715,442/ = wereused for purchasing and fencing the property. Presently the plot is in litigation so there isno improvemen t i n progress . Othe r K K fixe d asset s ar e Offic e machines , safe ,refrigerator, Televisions and recorders and furniture & equipment.